Jay-Z Reportedly Stepped In To Prevent Dame Dash From Having To Sell His Roc-A-Fella Shares Following Legal Issues

Even after their alleged fallout with Roc-A-Fella, Jay-Z and Dame Dash still have a strong bond, as evidenced by recent news on social media. Legal documents obtained by the media revealed that Dame Dash might have to relinquish his shares in Roc-A-Fella to pay off a debt of $832,000 to film producer Josh Webber and Muddy Waters Pictures. However, Jizzy and Kareem “Biggs” Burke intervened and tried to prevent the shares from being sold. According to the latest news, Damon Dash has been ordered to sell his 1/3 ownership of his Roc-A-Fella shares to pay an $823K debt settlement after losing the lawsuit. Jay Z was against the sale to a third party, so he offered $1.5 million, but Dame refused to sell to Jay Z.

To provide some context, in 2016, Dame Dash was fired as the director of Webber’s crime thriller, Dear Frank, for being verbally abusive to staff and showing up to set high. Dash was unhappy with Webber for allegedly trying to take credit for his work. He chose to sell his original directorial vision of the film independently under a different title, The List. Webber and Muddy Waters Pictures sued him for copyright infringement and defamation, and in 2022, they obtained a judgment against him. Nevertheless, Dash has not yet complied with the order. Webber’s most recent attempt to collect the judgment was on February 13th.

Jay-Z and Kareem “Biggs” Burke opposed the collection of a judgment and argued that Roc-A-Fella’s bylaws require the entire board’s approval for any significant sell-offs. Although the court criticized the decision to sell Dash’s shares, which was made at a 2021 board meeting where he was absent and could not vote, it ordered Roc to make his stock certification available to the U.S. Marshal’s Service within 180 days. However, according to the law, Hov and Burke still have an equal opportunity to purchase the shares before others in the event of their decline.

Leherburger had questioned, during the ruling,

“The question at the core of the instant dispute is whether the Roc-A-Fella By Laws’ prohibition on transfer and sale of Dash’s one-third ownership interest in shares of RAF without the consent of RAF’s board of directors legally prevents the sale of Dash’s interest in RAF to satisfy the Judgment,”

“The answer indisputably is no.”

Fans continue to share their opinions on the case in the comments.

Damon Dash has been ordered to sell his 1/3 ownership of his Roc-A-Fella shares to pay A $823K Debt Settlement after losing a lawsuit. Jay Z was against the sale to a third party so he offered $1.5M but Dame refused to sell to Jay Z. pic.twitter.com/Y3D7Zx2lbM

— Black Millionaires ® (@Blackmillions_) February 23, 2024