Damon Dash is attempting to obstruct a shareholder meeting scheduled for today, which he claims is intended to prevent him from selling his Roc-A-Fella Records shares.
Damon Dash has now filed a fresh set of court documents alleging that Jay-Z is attempting to thwart his effort to sell his 1/3 stake in Roc-A-Fella Records and that he plans to take over as director of the company.
The initial disagreement arose from Jay-Z’s allegations that Damon was attempting to sell the copyrights to Reasonable Doubt as an NFT to a business named SuperFarm.
Following Jay’s lawsuit, a judge granted a temporary restraining order against Damon Dash, barring him from selling the NFT until the conflict is resolved.
According to the lawsuit, Damon alleges that Jay-Z scheduled a shareholder meeting for (July 16) at 5:00 p.m., when he intends to unlawfully appoint himself the label’s director, which in turn will see Jay-Z in the position to halt any sale of his shares.
According to Damon, Jay-Z and Biggs want to implement the bylaws, which incorporate unlawful constraints on the transfer of Roc-A-Fella Records shares.
Damon also accused Jay-Z of unlawfully transferring the copyrights to Reasonable Doubt to S. Carter Enterprises in a separate lawsuit filed earlier this week.
According to Damon Dash, the change has robbed Roc-A-Fella Records of streaming revenue, which has now been routed to S. Carter Enterprises.
Damon Dash further claimed that the intended revised bylaws would insulate Jay-Z from the litigation over the unlawful transfer of Reasonable Doubt to S. Carter Enterprises by indemnifying the director of Roc-A-Fella Records from any culpability.
Damon asserts to be the only director of Roc-A-Fella Records as well as the company’s sole CEO.
He wants the judge to clarify that without his consent, no one else may enter into agreements, engage attorneys, or convene corporate meetings to modify the company’s bylaws.
Source: AllHipHop
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