The U.S. Attorney’s Office has joined the Securities Exchange Commission’s (SEC) probe of Iconix Brand Group, Iconix said in an SEC filing.

The investigation by the U.S. Attorney’s Office in New York is in addition to a three-year-old SEC probe that began following former Iconix CEO Neil Cole’s departure from the company in 2015.  The SEC investigation is looking into Iconix’s accounting treatment for international joint ventures. Iconix revised its financial statements for fiscal years 2013 and 2014 and the first two quarters of 2015.

The U.S. Attorney’s Office didn’t disclose the nature of its probe. But Iconix “intends to cooperate fully,” the company said.

The SEC also has been seeking a court order requiring rapper Jay-Z (who sold his Rocawear brand to Iconix for $204 million in 2007) to testify as part its investigation. Jay-Z’s testimony was being sought in connection with a $169 million write-down Iconix took for the Rocawear brand. In the year ended Dec. 31, 2017, Iconix incurred a $34.5 million trademark impairment charge as sales of Rocawear licensees’ products (men’s, women’s and children’s apparel, footwear, outerwear and jewelry) decreased amid declining demand for streetwear and urban clothing, Iconix said.

Contact:

Iconix Brand Group, Jeffrey Ward, Interim CFO, 212-730-0030