Despite all that Jay-Z and Dame Dash have allegedly went through in the fallout of Roc-A-Fella, it looks like there’s still enough there for them to defend each other. For those unaware, according to legal documents reportedly obtained by AllHipHop, the latter might have to give up his shares in the Roc to pay off a debt to film producer Josh Webber and Muddy Waters Pictures. They sued the music executive in 2022, and to collect their $832,000 judgement, they want to go after his stake in the record company. But Hov and the label’s third co-founder Kareem “Biggs” Burke stepped in to prevent these shares from selling out.
Before getting into that, it’s important to bring things back to 2016, when Dame Dash was fired as the director of Webber’s crime thriller flick, Dear Frank. He was allegedly unfit for the directorial role, being verbally abusive to staff and showing up to set high. The 52-year-old thought Webber tried “to take credit for a Black man’s work” and attempted to sell his original directorial vision of the film independently under another title, The List. Webber and Muddy Waters Pictures sued for copyright infringement and defamation, and received a 2022 judgement, but Dash still hasn’t complied with this order at press time.
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Jay Z Dame Dash Roc A Fella Shares Sell Hip Hop News” class=”wp-image-766868″ srcset=”https://wp.hnhh.com/wp-content/uploads/2024/02/Dame-Dash-Roc-A-Fella-1024×683.jpg 1024w, https://wp.hnhh.com/wp-content/uploads/2024/02/Dame-Dash-Roc-A-Fella-300×200.jpg 300w, https://wp.hnhh.com/wp-content/uploads/2024/02/Dame-Dash-Roc-A-Fella-768×512.jpg 768w, https://wp.hnhh.com/wp-content/uploads/2024/02/Dame-Dash-Roc-A-Fella-1536×1025.jpg 1536w, https://wp.hnhh.com/wp-content/uploads/2024/02/Dame-Dash-Roc-A-Fella-2048×1366.jpg 2048w” sizes=”(max-width: 1024px) 100vw, 1024px” />Now, Jay-Z and Kareem “Biggs” Burke objected to this judgement’s collection, and argued that Roc-A-Fella’s bylaws call for the full board to approve of any significant sell-offs like this. U.S. Magistrate Judge Robert W. Lehrburger criticized that this decision finalized at a 2021 board meeting in which Dame Dash was not present and didn’t vote for it. Regardless, the court ordered the Roc to make his stock certification available to the U.S. Marshal’s Service within 180 days.
“The question at the core of the instant dispute is whether the Roc-A-Fella By Laws’ 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,” Leherburger questioned. “The answer indisputably is no.” Hov and Burke still has equal opportunity to buy the shares, and Webber’s last attempt to collect the judgement was on Februrary 13. Meanwhile, for more news and the latest updates on Dame Dash and Jay-Z, stick around on HNHH.
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