So apparently, Jay-Z doesn’t own the Roc…? Or at least not it’s logo. That’s at least according to Iconix Brand Group, who claim that they purchased the logo from Jay for $204 million quite some ways back. Now the group is suing Jay, Roc Nation, New Era, LIDS, and the San Francisco Giants for $10 millions each for using the logo on their merchandise. Apparently, the terms of their agreement allow them to maintain control of when the logo is placed on any merchandise.
As of yet no evidence has surfaced to support these allegations. However, they do have a lawsuit pending, so there must be something.
Well, seems like Jay is just going to have to reduce the family house hunting budget from $80million to $70million. Can’t speak for the other companies being sued, but I’m sure the Carters will be alright.