Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.
A New York judge has ordered Dash to hand over his shares of the famed hip-hop label for his alleged refusal to pay a $823K judgment to movie producer Josh Weber.
Dash lost Weber’s defamation and copyright infringement lawsuit following a dispute over the 2016 film “Dear Frank.”
Both Jay-Z and Roc-A-Fella co-owner Kareem “Biggs” Burke object to the ruling, citing the company bylaws that mandate approval from the board of directors to sell off shares.
However, U.S. Magistrate Robert W. Lehrburger put in a 15-page decision that shut down Jay-Z’s and Burke’s objections and ruled that Dash’s one-third ownership of Roc-A-Fella is personal property that can be seized to satisfy his judgment.
www.blackenterprise.com
A New York judge has ordered Dash to hand over his shares of the famed hip-hop label for his alleged refusal to pay a $823K judgment to movie producer Josh Weber.
Dash lost Weber’s defamation and copyright infringement lawsuit following a dispute over the 2016 film “Dear Frank.”
Both Jay-Z and Roc-A-Fella co-owner Kareem “Biggs” Burke object to the ruling, citing the company bylaws that mandate approval from the board of directors to sell off shares.
However, U.S. Magistrate Robert W. Lehrburger put in a 15-page decision that shut down Jay-Z’s and Burke’s objections and ruled that Dash’s one-third ownership of Roc-A-Fella is personal property that can be seized to satisfy his judgment.
Damon Dash Ordered to Sell Roc-A-Fella Records Shares Amid Jay-Z's Objection
Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.
www.blackenterprise.com
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