Jay-Z and Iconix have settled two lawsuits and arbitration.
Jay-Z's had to deal with a few lawsuits in his time but for the past few years, he's been in and out of court with Iconix Brand Group Inc. over Rocawear clothing. They've been duking out in court over the past few years. Iconix purchased Rocawear in 2007 for $204M. After Jay launched the Roc Nation brand, he was accused of infringing on the Roc Nation trademarks after several baseball caps were produced. However, it looks like the two have finally settled things in court, once and for all.
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According to Bloomberg, Jay-Z and Iconix filed documents confirming that they've settled their dispute. Iconix said that they sold intellectual property assets to Jay-Z Roc Nation LLC. as well as membership interests in Marcy Media LLC to another entity. Ultimately, Iconix and Jay-Z settled two different lawsuits as well as arbitration.
In other related news, Jay-Z is getting ready to host his Blackjack Tournament for the Shawn Carter Foundation. Alicia Keys will be serving as the performer for the evening while Meek Mill and Rihanna are expected to be among the high-profile guests. The event will take place at the Seminole Hard Rock Hotel & Casino in Hollywood, FL this Friday. "Equipping our youth with the tools to succeed will always be a priority for me and my family,” JAY-Z said about the event. “I’m looking forward to continuing that mission at this year’s Shawn Carter Foundation Gala Weekend, where we’ll celebrate our scholars and continue to support young people in a meaningful way