February 20th 2024.
Damon Dash, a well-known figure in the hip-hop industry, is facing a difficult situation. He is being forced to sell his shares of Roc-A-Fella, a record label he co-founded with his former friend and business partner, Shawn "Jay-Z" Carter. This decision has been met with objections from both Jay-Z and Roc-A-Fella co-owner, Kareem "Biggs" Burke. However, a New York judge has ordered Dash to hand over his shares due to his refusal to pay a $823K judgment to movie producer Josh Weber.
The legal battle between Dash and Weber began in 2018 when Weber terminated Dash from his position as director of Muddy Waters Pictures. Weber claimed that Dash was not fit for the job. This led to a dispute over the 2016 film "Dear Frank," with Dash accusing Weber of stealing footage and renaming it "The Last" to sell it to other outlets. After struggling to receive payment from Dash, Weber decided to go after his shares of Roc-A-Fella.
Both Jay-Z and Burke have raised objections to the court's decision, stating that the company's bylaws require board approval for the sale of shares. However, U.S. Magistrate Robert W. Lehrburger ruled in a 15-page decision that Dash's one-third ownership of Roc-A-Fella is considered personal property and can be seized to satisfy the judgment. He stated, "The question at the core of the instant dispute is whether the RAF Bylaws' prohibition on transfer and sale of Dash's one-third ownership interest in shares of RAF without the consent of RAF's board of directors legally prevents the sale of Dash's interest in RAF to satisfy the Judgment. The answer indisputably is 'no.'"
Adding to Dash's legal woes, he is also involved in a battle with his ex-wife Rachel Roy over child support payments. Dash has requested a reduction in his monthly payments from $3,000 to $438, citing financial hardship and low income. As he continues to face these challenges, Dash is determined to fight for his rights and protect his assets.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
