Dame Dash – Source: Monica Morgan / Getty
Dame Dash suffered another legal blow after a U.S. Magistrate Judge ordered him to sell his remaining Roc-A-Fella shares.
As of late hip-hop legend Dame Dash has allegedly encountered several financial-related issues. If you let him tell it everything is under control and we should stop being “chatty patties“. His latest issue could impact his stake in the iconic label Roc-A-Fella Records.
According to records obtained by XXL, U.S. Magistrate Judge Robert W. Lehrburger has decided Dash should sell his remaining stake in the label to cover his outstanding debts.
To be more specific he wants the funds to cover a $823,000 debt from a 2022 civil case ruling.
The civil case from movie producer Josh Webber alleged Dash was overzealous and pitched Webber’s film Dear Frank to potential buyers as his film under a different title. Webber has alleged since the ruling Dash has avoided handing over the $823,000.
Of course, you’re probably wondering how the other founders, Jay-Z and Kareem “Biggs” Burke feel about this. Reportedly this situation is the first time all three founders have been on the same page in decades. All three oppose the ruling and reportedly stated any major sale must be approved by the board of directors according to Complex.
“The question at the core of the instant dispute is whether the RAF 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 sale of Dash’s interest in RAF to satisfy the Judgment,” Leherburger wrote. “The answer indisputably is no… Without jurisdiction to enforce a judgment entered by a federal court, the judicial power would be incomplete and entirely inadequate to the purposes for which it was conferred by the Constitution.”
Also, Jay-Z previously tried to get Dame’s Shares as recently as 2021. However, Dame scoffed at the offer of $1.5 million and the deal didn’t happen.
If the shares are sold in any public fashion we can assume Hov will be present with a blank check.
