Iconix Brand Group Enters Settlement To resolve All Disputes Concerning Roc Nation Apparel Group; In Connection With Settlement, Co. Sold Certain Intellectual Property Assets To Roc Nation

On November 12, 2019, Iconix Brand Group, Inc., a Delaware corporation, and certain of its affiliates (the “Company”), entered into a settlement agreement (the “Settlement Agreement”) to resolve

Benzinga · 11/13/2019 13:18

On November 12, 2019, Iconix Brand Group, Inc., a Delaware corporation, and certain of its affiliates (the “Company”), entered into a settlement agreement (the “Settlement Agreement”) to resolve all disputes relating to the following legal proceedings: (i) Iconix Brand Group, Inc., et al. v. Roc Nation Apparel Group, LLC et al., No. 17-cv-3096 (S.D.N.Y.); (ii) S. Carter Enterprises, LLC, et al. v. Iconix Brand Group, Inc., et al., No. 653858/2019 (N.Y. Sup. Ct., N.Y. Cnty.); and (iii) Iconix Brand Group, Inc., et al. v. Shawn C. Carter, et al., Arbitration No. 01-18-0003-6487. In connection with this settlement agreement, the Company sold certain intellectual property assets to Roc Nation LLC and membership interests in Marcy Media Holdings LLC to MM Holdings Acquisition LLC in exchange for $15.0 million and mutual releases of all existing claims between the parties. The settlement agreement was reached without admission of any wrongdoing or unlawful conduct by either party.