The legal battle between Jay-Z and Damon Dash continues, although the “Empire State of Mind” rapper won the latest small victory.
According to TMZ, a federal judge refused to grant Damon’s request for a temporary restraining order, which would have prevented a meeting between Roc-A-Fella shareholders last Friday. Damon alleges Jay-Z wanted to use the meeting to “try to pass bylaws” that prohibit Damon from selling his stakes in the American hip hop record label.
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Damon founded the record label in 1995 alongside Jay-Z and Kareem “Biggs” Burke. However, recently, he’s been trying to sell his 1/3 interested in the company, but with no luck.
Unfortunately, the judge was unable to approve the restraining order since they couldn’t verify what would be discussed in the meeting. The judge did, however, tell Damon he could file a lawsuit later down the line depending on the outcome of the shareholder’s meeting.
TMZ notes this isn’t the first time Damon has tried get the court on his side during his controversy with Roc-A-Fella. In June, it was revealed Damon attempted to sell Jay-Z’s “Reasonable Doubt” album as an NFT. When something becomes a non-fungible token (NFT), it means it’s unique and cannot be replicated with something else. It becomes stored on digital ledger, otherwise known as a block change, which is what makes it unique.
However, Damon was later hit with a lawsuit by Roc-A-Fella records for attempting to sell the album. The case, which is being spearheaded by attorney Alex Shapiro, alleges that Damon is trying to make a quick buck amid the growing interested in NFTs.
However, shortly after Damon’s attempt to make “Reasonable Doubt” an NFT came to light, he clarified that it’s not just the album he’s trying to sell, but all his stakes. In fact, Damon said that Jay-Z originally tried to buy his 1/3 shares last March, though the offer was too low. “[It was] unacceptable,” Damon said to the media at the time. As such, he explained he’s looking for his own buyer.
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Perhaps the reason Jay-Z and the other shareholders want to prevent Damon from selling his shares is because of the power it would give the buyer – they would have a major say in the record company, though Jay-Z would retain administration rights.
As of now, it’s unclear if Damon has a buyer lined up to take over his shares, or what it will take for him to leave Roc-A-Fella records in the past.
Sources: TMZ, TMZ, Daily Mail,
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