Dame Dash, the co-founder of Roc-A-Fella Records, will reportedly have his shares in the company auctioned off after losing a court battle with filmmaker Josh Webber. The U.S. Marshall will oversee the public auction of Dash’s 33.3% interest in Roc-A-Fella on August 29 in Manhattan, with a minimum bid of $1.2 million required.
Dame Dash’s Roc-A-Fella Shares Will Be Up For Auction
This auction stems from a lawsuit filed by Webber, who won an $800K-plus civil judgement against Dame Dash for copyright infringement and defamation related to the film “Dear Frank.” Dash allegedly falsely claimed ownership of the film’s rights even after being removed from the project. The court documents indicate that the auction is meant to cover this judgement, with Jay-Z’s classic album “Reasonable Doubt” cited as Roc-A-Fella’s most valuable asset.
Dame Dash has been attempting to sell his Roc-A-Fella shares for some time now, but it seems that this auction will be the final resolution. It will be interesting to see who ends up with this significant stake in the iconic record label. The saga of Dame Dash and Roc-A-Fella continues to unfold, with this auction marking a significant chapter in the company’s history.
In conclusion, the auction of Dame Dash’s Roc-A-Fella shares represents a turning point in the ongoing legal battles surrounding the company. It will be fascinating to see how this auction unfolds and who will ultimately acquire Dash’s stake in the legendary record label. This event underscores the complexities and challenges that can arise in the music industry, even among co-founders of successful enterprises like Roc-A-Fella Records.
