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Jay-Z's Companies Sue NYC Licensing Company For Fraud

Jay-Z’s Companies Sue NYC Licensing Company For Fraud

Jay-Z By Joella Marano (Jay-Z) / CC BY-SA 2.0 via Wikimedia Commons
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NEW YORK (CelebrityAccess) – Jay-Z’s business entities are suing New York City licensing firm, Iconix Brand Group Inc., for fraud, according to The Associated Press. 

The lawsuit, which was filed Thursday in state court in Manhattan, accuses Iconix Brand Group Inc. of fabricating financial reports to falsely inflate its earnings at the time it entered into a brand partnership with the rapper’s Roc Nation apparel company back in 2013, reports AP.

The allegations arise “out of a massive years-long fraud perpetrated by Iconix and its affiliates to amass a portfolio of trademarks under false pretenses, in the process defrauding its licensees and partners, and setting off a colossal accounting scandal the depths of which are still being uncovered,” the suit notes.

Jay-Z’s camp is reportedly seeking payment of legal fees and unspecified damages.

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