According to documents filed in U.S. District Court in New York on Nov. 13, the more than two-year-old lawsuit between Jay-Z’s Roc Nation and licensing company Iconix Brand Group has been dismissed.
In the original lawsuit, which was filed in May 2017, Iconix accused Roc Nation, its subsidiary Roc Nation Apparel Group (RNAG), Jay-Z, Major League Baseball and other defendants of undermining its licensing rights RNAG partnered with apparel company New Era for a line of Major League Baseball caps bearing the Roc Nation logo.
Roc Nation later countersued for breach of implied license, alleging that the 2007 deal with Iconix was reached for the Rocawear brand, not Roc Nation. Roc Nation filed further counterclaims alleging that Iconix was attempting to hijack its licensing rights by rewriting “carefully negotiated agreements.” RNAG additionally claimed that the Roc Nation licensing had expired by the time a deal was reached with New Era. Roc Nation filed a new lawsuit that accused Iconix of fabricating financial reports during negotiations with the company.
The two sides have now reached a settlement in which Iconix has agreed to sell some of its Rocawear rights back to Roc Nation for a sum of $15 million.
An attorney for Iconix declined to comment on the dismissal. Representatives for Roc Nation have yet to respond.
Credits: Billboard