Dame Dash has responded to JAY-Z making a legal filing about the copyright ownership of his debut album Reasonable Doubt ahead of the sale of Dame’s Roc-A-Fella shares.
In a recent filing, Hov and his lawyers claimed that legal ownership of Reasonable Doubt will refer back to him in 2031, regardless of who owns the record label at that point.
Dash responded on Instagram on Tuesday (August 13), commenting: “They can say what they want, this shit is still for sale. You’re not buying a copyright, you’re buying a piece of a company ROC A FELLA INC.”
He then once again welcomed buyers of his one-third stake in Roc-A-Fella, adding: “Please only serious inquiries only!”
Dame’s 33.3 percent interest in the once-famed record label will be sold off at a public auction in New York City on August 29. Proceeds from the sale will be used to satisfy the $823,000 he owes to movie producer Josh Weber for copyright infringement and defamation over the 2016 film Dear Frank.
Earlier this year, after a judge ordered Dame Dash to sell his shares to pay his aforementioned debt, both JAY-Z and fellow Roc-A-Fella co-founder Kareem “Biggs” Burke objected on the basis that company bylaws mandate that the board of directors must first approve the sale of any stakes in the imprint.
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However, U.S. Magistrate Robert W. Lehrburger ruled that Dame’s one-third ownership of Roc-A-Fella can, in fact, be seized to help cover the judgment since it is his personal property.
In his 15-page decision, Lehrburger blasted Jay and Biggs for creating a no sell-off clause during a 2021 board meeting that Dame did not attend or vote for. He ordered Roc-A-Fella to deliver Dame’s stock certificate to the U.S. Marshals Service for an auction in 180 days.
Jay and Biggs’ main objection was less about siding with Dame, however, and stemmed from concerns that an outsider can purchase the intellectual rights of Roc-A-Fella. To address the issue, Lehrburger said: “They can participate in the auction and place the winning bid.”
The minimum bid for Dame’s shares cannot be less than $1.2 million which would easily cover his extensive debt. It is not yet known if JAY-Z and Biggs will participate in the upcoming auction.
