At the end of last week, the music world was surprised with the news that Jay-Z’s Roc-A-Fella Records, which was launched with co-founders Dame Dash and Kareem “Biggs” Burke, filed a lawsuit against Dash. It accused him of attempted to sell Jay-Z’s debut album, Reasonable Doubt as an NFT, something the record label said he did not have the right to do. Well, it turns out that selling a Reasonable Doubt NFT was not in Dash’s plans. His actual intentions were to sell his entire one-third stake in Roc-A-Fella, which is something he clarified to TMZ.
Dash spoke to the publication in response to the accusations stated in the lawsuit. He claims that Jay-Z tried to buy his entire Roc-A-Fella stake as recently as March, but it was at “a price I deemed unacceptable.” This forced Dash to find a more suitable buyer on his own.
He added, “Under the terms of the deal with a potential buyer, the buyer would buy my share of Roc a Fella Records and Jay-Z will have exclusive administration rights.” Dash also said that the lawsuit filed against him by Roc-A-Fella, who is represented by high-profile lawyer Alex Spiro, was simply a scare tactic to stop him from selling something he believes he has the right to sell.
Court documents from the previously-filled lawsuit said, “Dash can’t sell what he doesn’t own. By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties.” It added, “The court should stop Dash….and hold him accountable for his brazen theft.”