Jay-Z Close To Settling Roc Nation Lawsuit

Photo by Larry Busacca/Getty Images for Spike

Jay-Z is reportedly in negotiations to settle a lawsuit over his Roc Nation trademark.

Jay sold the rights to his clothing line, Rocawear, for $204 million in 2007 to Iconix Brand Group.

Reports show that on May, 2017 executives thought that their exclusive rights were violated by a line of designer baseball caps, T-shirts and hoodies featuring the Roc Nation trademark.

Jay was named in the lawsuit alongside other Roc Nation officials, with companies like New Era, LIDS, and MLB team, the San Francisco Giants, also being sued by the Iconix Brand Group for using the logo without their consent.

The parties are now close to reaching an undisclosed settlement and they do have 45 days to re-open any claim if they choose to.