(Reuters) – Jay-Z has agreed to privatize a trademark and contractual conflict with the Iconix Brand Group Inc. clothing company, said his lawyers on Wednesday, after enough African American arbitrators became eligible to deal with the case.  Lawyers to the rapper and contractor asked a state guard in New York to dismiss Jay-Z's 28-figure trial in Manhattan to stop the arbitration in connection with the sale of the Rocawear clothing brand to Iconix for around $ 204 million in 2007. . Jay-Z, whose legal name is Shawn Carter, had complained that the arbitration would be unfair, since only two of the more than 200 arbitrators proposed by the US arbitration were identified as African Americans and had no conflicts of interest.
He said the lack of candidates left him "no choice at all", constituted racial discrimination under the New York law and abolished his previous agreement on arbitration with Iconix.
But Jay-Z's lawyer Alex Spiro told Justice Barry Ostrager of the Manhattan Supreme Court on Wednesday that AAA allowed the dispute to be heard by a three arbitrator instead of a single arbitrator and offered five African-American candidates.
Mr. Spiro also said that AAA agreed to consider Jay-Z's list of 1
At these bases, Jay-Z's "content to continue with the arbitration" and judge Ostrager wants to end the trial despite Iconix still defending it, Spiro said.
Lawyers for Iconix did not immediately respond to the request for comments.
The New York-based company has dozens of brands including Danskin, Joe Boxer, London Fog, Mossimo, Pony and Starter.
Iconix has printed almost the entire value of the Rocawear brand, and the US Securities and Exchange Commission has investigated the write-downs.
In May, a federal judge ordered Mr Jay-Z to testify in the probe. The SEC wanted to ask him about his personal involvement with the Rocawear brand.
Mr. Jay-Z, 49, is known for songs like "Hard Knock Life", "99 Problems" and "Big Pimpin" and is married to the pop star Beyonce.
The case is Carter et al. v. Iconix Brand Group Inc. et al. New York State Supreme Court, New York County.