Damon Dash just filed a new set of court documents claiming Jay-Z is trying to block his attempt to sell his 1/3 stake in Roc-A-Fella Records and is planning to take over the company as director today (July 16).
The original dispute started over Jay-Z’s claims that Damon was trying to sell the copyrights to the album Reasonable Doubt as an NFT with a company called SuperFarm.
Reasonable Doubt is the only album that is owned by Roc-A-Fella Records, which counts Damon Dash, Jay-Z, and Kareem “Biggs” Burke as shareholders of the company.
Damon Dash maintains he was minting his 1/3 ownership in Roc-A-Fella Records as a digital hologram, which would have been auctioned off for between $10 and $30 million.
But now, Damon claims Jay-Z has called a shareholder meeting for today (July 16) at 5:00 p.m. where he plans to illegally name himself the director of the label, according to the complaint.
Damon says Jay-Z and Biggs are planning to adopt the bylaws which contain unlawful restrictions on the transfer of shares of Roc-A-Fella Records.
Damon claims the new bylaws will halt his ability to transfer his 1/3 shares. Dame says there is another nefarious plot going on against him as well, courtesy of Jay-Z.
Damon Dash says the move has deprived Roc-A-Fella Records of streaming income the company would have earned, which is now being redirected to S. Carter Enterprises.
“It should be noted that for 25 years RAF operated without issue despite having no bylaws. Now when I am in the process of trying to sell my 1/3 equity interest in RAF, Jay-Z is obviously trying to unlawfully use RAF to take certain actions to prevent me from doing so.” – Damon Dash
Damon Dash also said the new bylaws would indemnify the director of Roc-A-Fella Records from any liability, which would protect Jay-Z from the lawsuit over the illegal transfer of Reasonable Doubt to S. Carter Enterprises.
“This is very troublesome given that Jay-Z was just sued by me on behalf of RAF for essentially stealing the copyrights and/or streaming rights of RAF in the Supreme Court of the State of New York,” Damon Dash said.
Damon maintains that he is the sole director of Roc-A-Fella Records and is the corporation’s only CEO.
He is asking the judge to confirm that no one else can enter into agreements, hire lawyers or call corporate meetings to change the bylaws of the company without his consent.