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Rocawear has been all in the news this week especially after losing the bid on the arena to Izod Apparel.

Iconix Brand the marketer and distributor that purchased Rocawear clothing earlier this year has finally settled its lawsuit against the Department of Justice antitrust division, which filed a civil suit against Iconix after they failed to provide certain documents required under the Hart-Scott-Rodino Act of 1976 during acquisitions of companies with assets above a specific value.

Iconix was ordered to pay a sum not to exceed $550,000 in the lawsuit, which accrued from the penalty that fines the company at fault $11,000 per day while in violation of the Hart Scott Rodino Act of 1976.

This is exactly why you have to know the rules and abide by them. Have your paperwork right before entering into any agreement.

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