Celebrity Gossip Never Looked So Good ®
YBF on Twitter YBF on Facebook YBF on Instagram Feed

Jay Z Responds To SEC - Says Probe Is Now A 'Celebrity Hunt' & He Isn't Testifying More Than A Day + J. Cole Announces 'KOD' Tour

 photo JayZSEC.png

Jay Z has 99 problems and this SEC probe aint gonna be one, at least, that's what his lawyers are making sure of. Get the latest, plus deets on J. Cole's "KOD" Tour with Young Thug inside...

Jay Z's lawyers are working overtime after a federal judge ordered him to to explain why he’s been M.I.A. after he was served two subpoenas in a fraud case against Iconix. He's being accused of “dodging” two subpoenas related to a Securities and Exchange Commission investigation of a company that bought his Rocawear clothing line in the last six months.

Hov's lawyers feel like the SEC is now on "celebrity hunt," demanding the rapper answer an unlimited amount of questions beginning Friday about a company he sold his Rocawear apparel business to more than a decade ago.

The Hip Hop mogul, real name Shawn Carter, responded to the judge's orders with an 18-page opposition brief drafted by his attorneys at Quinn Emanuel. His lawyers are calling the SEC probe a "celebrity hunt." They explained the SEC's "instant request is unreasonably and unnecessarily burdensome and is driven more by governmental fascination with celebrity and headlines than by any proper investigative purpose."

U.S. District Judge Paul G. Gardelphe ordered Hov to appear in court today to try and convince him why he shouldn’t have to deliver a testimony in the fraud cause against Iconix. If he fails to convince the judge that he shouldn’t have to testify, then he will be forced to give his testimony before the SEC in Washington on May 11th. It’s reported he will be required to answer questions for as many days as it takes.

However, Jay said he's not doing it. He agreed to testify for a day, but anything over that.  He and his wife Beyonce do have their "On The Run II" tour coming up.

Testifying for more than a day "will impair the work of many individuals and entities who are preparing for the tour and will hinder my own work in preparation for the tour."

They’re not investigating Hov, but they need his testimony in the case. The SEC is investigating "potential violations" of federal financial disclosure laws by Iconix when the company reported financial results, including about its Rocawear-related assets. In 2007, the Grammy Award winner sold Rocawear to Iconix for $204 million.

Jay Z's rep said he had no role in Iconix’s financial reporting or its actions as a public company.

In other rapper news...

 photo jcoletour.png

A little over two weeks after dropping his banger of an album KOD, J. Cole will embark on a 34-date tour with special guest Young Thug.

Produced by Live Nation, the tour will kick off in Miami, FL on August 9th and make stops across North America including Atlanta, Chicago, New York, Los Angeles and more, before wrapping in Boston, MA on October 10th.

Below are the dates:

Aug 9 - Miami, FL - AmericanAirlines Arena

Aug 11 - Tampa, FL - Amelia Arena

Aug 12 - Atlanta, GA - Infinite Energy Center*

Aug 14 - New Orleans, LA - Smoothie King Center

Aug 15 - Houston, TX - Toyota Center

Aug 17 - San Antonio, TX - AT&T Center

Aug 18 - Dallas, TX - American Airlines Center

Aug 21 - Phoenix, AZ - Talking Stick Resort Arena*

Aug 22 - San Diego, CA - Viejas Arena at Aztec Bowl SDSU

Aug 24 - Los Angeles, CA - Staples Center

Aug 29 - Oakland, CA - Oracle Arena

Sep 2 - Boise, ID - Taco Bell Arena

Sep 4 - Sacramento, CA - Golden 1 Center

Sep 5 - Anaheim, CA - Honda Center

Sep 7 - Las Vegas, NV - T-Mobile Arena

Sep 8 - Salt Lake City, UT - Vivint Smart Home Arena

Sep 10 - Denver, CO - Pepsi Center

Sept 12 - Little Rock, AR - Verizon Arena*

Sep 13 - Birmingham, AL – Legacy Arena at The BJCC

Sep 17 - Nashville, TN - Bridgestone Arena

Sep 18 - Kansas City, MO - Sprint Center

Sep 19 - Minneapolis, MN - Target Center

Sep 21 - Detroit, MI - Little Caesar's Arena

Sep 22 - Chicago, IL - Allstate Arena

Sep 23 - Columbus, OH – Schottenstein Center

Sep 25 - Buffalo, NY - KeyBank Center

Sep 26 - Hartford, CT - XL Center

Sep 28 - University Park, PA - Bryce Jordan Center

Oct 1 - New York, NY - Madison Square Garden*

Oct 4 - Toronto - Air Canada Centre

Oct 5 - Montreal - Bell Centre

Oct 6 - Philadelphia, PA - Wells Fargo Center

Oct 8 - Washington, DC - Capital One Arena*

Oct 10 - Boston, MA - TD Garden

*Young Thug not performing

KOD debuted at the No.1 spot on the Billboard 200, which marks the rapper's fifth consecutive #1 on the chart. Nice! The album also earned the third-biggest streaming week for an album in all of chart history. Yes, he's making history with his highly-praised album.

Tickets for the KOD tour go on sale to the general public beginning Saturday, May 12th at 10 a.m. local time at www.dreamville.com and LiveNation.com. American Express® Card Members can purchase tickets before the general public beginning Tuesday, May 8th at 10 a.m. through Friday, May 11th at 10 p.m.

Spotify and fan pre-sale kicks off Friday, May 11 at 10 a.m. local time.

Photos: Getty

Comments

WANT YOUR OWN AVATAR? GET IT HERE.

Log in to post a new comment

Log in to post a new comment

register
Sign in with Facebook