Jay-Z’s Roc Nation filed a lawsuit in Manhattan Supreme Court on Wednesday against Iconix Brand Group Inc., a company under an SEC investigation that has now ensnared the rapper. Roc Nation lawyers say Iconix lied about its finances and tricked Jay-Z into involving himself in their business, which is now under federal investigation. The New York Post reports Jay-Z, Roc Nation and Iconix have had a relationship since 2007, when the rap mogul sold his menswear brand Rocawear to the company for $204 million. Jay-Z and Iconix CEO Neil Cole became close and Cole began to lend the rapper money. A pension fund that invested in Iconix eventually sued Cole and the company for lying to them about the true value of Rocawear.  Iconix owned the Rocawear brand but licensed it to a company owned by Jay-Z until 2015. Cole told investors Rocawear would be profitable for years, but now it is only worth $34 million, nearly $169 million less than Cole said. Because of the lawsuit, the SEC sought to…

https://blavity.com/jay-zs-roc-nation-sues-company-for-fraud