May 4, 2018

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

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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.”

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Coronavirus cases rise, as more Americans on cruise confirmed ill

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Scoop: Inside the Trump campaign's big hedge on Facebook

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The Trump campaign has invested most of its advertising budget to date on Facebook, testing thousands of versions of ads per day to maximize its spending.

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Trump's revenge tour has the House in its sights

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In the lead-up to the 2018 midterm elections — buoyed by Republican control of both chambers — President Trump viewed campaigning for the House as a lower-tier priority and instead poured his energy into rallying for the Senate.

But after the GOP reckoning in 2018, and experiencing firsthand how damaging a Democratic-led House has been to him, Trump is now personally invested in helping Republicans regain the majority in November, several people familiar with his thinking tell Axios.