May 4, 2018

U.S. securities regulators want Jay-Z in court

Dan Primack, author of Pro Rata
Source: Giphy

The U.S. Securities and Exchange Commission yesterday filed a subpoena enforcement action against Shawn Carter (a.k.a. Jay-Z), saying it wants him in federal court next week to testify about his relationship with Iconix Brand Group.

Bottom line: The SEC isn't currently alleging that the rapper did anything wrong, except for ignoring its demand that he testify.

Carter was co-founder of apparel company Rocawear, which was purchased in 2007 by Iconix Brands Group for $204 million. The SEC is investigating Iconix, which has effectively written off the entire $204 million but which maintained business partnerships with Carter.

  • The SEC said its enforcement action does not reflect a determination of improper activity by Carter.
  • Carter's spox: "Mr. Carter is a private citizen who should not be involved in this matter.”

Go deeper

Updated 10 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 5,840,369 — Total deaths: 361,066 — Total recoveries — 2,439,310Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 1,721,926 — Total deaths: 101,621 — Total recoveries: 399,991 — Total tested: 15,646,041Map.
  3. Public health: Hydroxychloroquine prescription fills exploded in March.
  4. Business: Many poor and minority families can't afford food or rent.
  5. 2020: Trump courts Asian American vote amid coronavirus — The RNC issued proposed safety guidelines for its planned convention in Charlotte.
  6. Vaccine: How the U.S. might distribute a coronavirus vaccine once we have one.
  7. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

In photos: Protests over George Floyd's death grip Minneapolis

The Third Police Precinct burns in Minneapolis on Thursday night. Photo: Stephen Maturen/Getty Images

Demonstrators demanding justice burned a Minneapolis police station and took control of the streets around it last night, heaving wood onto the flames, kicking down poles with surveillance cameras and torching surrounding stores.

What's happening: The crowd was protesting the death of George Floyd, an unarmed black man whose life was snuffed out Tuesday by a white Minneapolis police officer who kneeled on his neck for about eight minutes.

1 hour ago - Sports

European soccer's push to return

A Bundesliga match between Borussia Dortmund and Bayern Munchen in an empty stadium. Photo: Alexandre Simoes/Borussia Dortmund via Getty Images

European soccer made a splash Thursday, with two of its biggest leagues announcing official return-to-play dates in June.

Why it matters: Soccer is the world's most popular sport, so watching its return through the lens of various leagues, countries and cultures — all of which have been uniquely impacted by the coronavirus pandemic — is illuminating.