“The dubious, indeed offensive, insinuation by the Carter parties that the race of an arbitrator is inherently indicative of bias contravenes every published authority on the matter,” attorney Samuel Levy said in a filing, referencing Jay-Z’s given name, Shawn Carter.
In November, Jay-Z and his attorneys at Quinn Emanuel Urquhart & Sullivan successfully delayed an arbitration in the dispute between the parties. He sold Rocawear to Iconix in 2007, in a $200 million deal that marked the company’s largest to date. In 2016, Iconix said in a financial statement that it suffered a reduction in assets and income to its Rocawear-related assets of $169 million in 2015, and in the following year’s filing, the company announced another $34.6 million in losses related to the Rocawear brand.
According to Jay-Z, the company’s financial distress has prompted a stream of litigation against him, including a trademark lawsuit pending in the Southern District of New York, and the arbitration in question, initiated in October. In the Jan. 11 filing, Iconix revealed that the latest dispute is over a financial records production clause in a 2015 settlement agreement to an earlier tiff. Jay-Z attorney Alex Spiro has said that Iconix is specifically resisting a commitment that it provide scholarships to underprivileged youth from the original deal.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]