SEC seeks court order for Jay-Z’s testimony in Iconix investigation

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Jay Z, Blue Ivy Carter and Beyonce Knowles attend the 66th NBA All-Star Game at Smoothie King Center on February 19, 2017 in New Orleans, Louisiana.

The Securities and Exchange Commission said Thursday it’s seeking a court order asking singer-songwriter Shawn Carter, or Jay-Z, to testify in an investigation into Iconix Brand Group.

The SEC said it’s looking into potential violations of the federal securities laws related to Iconix’s financial reporting. It said the company paid Jay-Z more than $200 million to acquire assets associated with his Rocawear apparel brand.

“After the acquisition, Carter and Iconix maintained publicly-disclosed partnerships related to the Rocawear brand,” the SEC said, but Jay-Z has failed to appear to testify about his venture with Iconix.

“We are aware that the SEC is seeking information on Iconix’s financial reporting,” a representative said in an email to CNBC on behalf of Jay-Z. “Mr. Carter had no role in that reporting or Iconix’s other actions as a public company. Mr. Carter is a private citizen who should not be involved in this matter.”

A representative from Iconix didn’t immediately respond to CNBC’s request for comment.

The SEC initially issued a subpoena for Jay-Z’s testimony last November. The group sent a second request in February, when Jay-Z had a new counsel. But the rapper still hasn’t offered the SEC any dates on which he agrees to appear in court, the filing said Thursday.

Shares of Iconix Brand Group were falling more than 9 percent Thursday afternoon following the news.

In addition to Rocawear, Iconix’s other apparel and accessories brands include Mudd, Mossimo, Joe Boxer, Bongo and Ed Hardy.