The long-running feud between Roc-A-Fella founders Jay-Z and Damon Dash is set to erupt as D Damon Dash, who co-founded Roc-A-Fella with Jay-Z and Kareem “Biggs” Burke, is being sued by the label.
Damon Dash’s effort to coin Jay-debut Z’s album “Reasonable Doubt” as an NFT is the source of the legal dispute. Dame had previously arranged an auction, which was subsequently canceled.
Alex Spiro, the attorney for the label reportedly stormed into court on Friday, June 18th, and filed a lawsuit against Damon, alleging that he is likely preparing another auction and that they want to put an immediate stop to it.
Spiro said of Dash’s alleged attempt to sell the masters:
“The clock is ticking. Dash had planned to sell at a SuperFarm Foundation online auction on June 23, 2021, the copyright to Jay-Z’s debut album Reasonable Doubt, recognized as one of the greatest recordings in history. That auction was cancelled, and Dash is currently frantically scouting for another venue to make the sale. It’s not a matter of if, only when,” Sprio said. “But Dash does not even own Reasonable Doubt or its copyright and, therefore, has no right to sell the album or any rights to it. Instead, RAF, Inc. owns all rights to Reasonable Doubt. The sale of this irreplaceable asset must be stopped before it is too late, and Dash must be held accountable for his theft.”
Spiro went on to add: “Dash’s status a minority shareholder in RAF, Inc., gives him no right to sell a company asset,” he said. “The bottom line is simple: 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. His planned auction of Reasonable Doubt would result in irreparable harm. The Court should stop Dash from attempting to sell the copyright to Reasonable Doubt, require Dash to return the NFT of Reasonable Doubt to RAF, Inc., and hold him accountable for this brazen theft of RAF, Inc.’s most prized asset.”
The lawsuit filed by Roc-A-Fella claims Damon the co-founder doesn’t own ‘Reasonable Doubt,’ hence cannot sell as an NFT.
It’s worth noting that Damon Dash has said in several interviews that he owns a share of the Reasonable Doubt masters which is Hov’s debut album, released on June 25, 1996.
Jay-Z, Damon, and Biggs sold the remaining 50% of Roc-A-Fella to Def Jam for $10 million in 2004, nearly a decade after the company was founded.
Except for ‘Reasonable Doubt,’ which he co-owns with his previous partners, Jay-Z owns all of his masters.
As the legal struggle unfolds, Roc-A-Fella is seeking a judge to issue a temporary restraining order against Damon. Stay tuned for more updates as the story develops.
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