A more than two-years-old lawsuit lawsuit between Jay-Z’s Roc Nation and licensing company Iconix Brand Group has been dismissed, according to documents filed in U.S. District Court in New York on Nov. 13.
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 — which the company purchased in 2007 for $204 million — when RNAG partnered with apparel company New Era to release a line of Major League Baseball caps bearing the Roc Nation logo.
Later that year, Roc Nation countersued for breach of implied license, alleging that the 2007 deal with Iconix was reached for the Rocawear brand, not Roc Nation. (Jay-Z launched the Rocawear clothing brand in 1999 with his Roc-A-Fella Records co-founder Damon “Dame” Dash.) In March 2018, Roc Nation filed further counterclaims alleging that Iconix was attempting to hijack its licensing rights by rewriting “carefully negotiated agreements.” In a separate motion filed simultaneously, RNAG asked the court to dismiss Iconix’s original complaint and award it damages for lost profits, lost goodwill and reputational harm. RNAG additionally claimed that while Iconix negotiated a separate deal for Roc Nation licensing in 2013, it had expired by the time RNAG reached the deal with New Era.
The following June, the legal drama escalated when Roc Nation filed a new lawsuit that accused Iconix of fabricating financial reports during negotiations with the company.
According to The Fashion Law, 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.
source:James eggertsen
