Dame Dash ordered to sell Roc-A-Fella records shares. And now owes 8 million in taxes and still 800K chikd support

[RUDY RAYYY MO]

Welp

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

A New York judge has ordered Dash to hand over his shares of the famed hip-hop label for his alleged refusal to pay a $823K judgment to movie producer Josh Weber.

Dash lost Weber’s defamation and copyright infringement lawsuit following a dispute over the 2016 film “Dear Frank.”

Both Jay-Z and Roc-A-Fella co-owner Kareem “Biggs” Burke object to the ruling, citing the company bylaws that mandate approval from the board of directors to sell off shares.

However, U.S. Magistrate Robert W. Lehrburger put in a 15-page decision that shut down Jay-Z’s and Burke’s objections and ruled that Dash’s one-third ownership of Roc-A-Fella is personal property that can be seized to satisfy his judgment.

Damon Dash Ordered to Sell Roc-A-Fella Records Shares Amid Jay-Z's Objection

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

www.blackenterprise.com

 

[keone]

Damn Dash

 

[OutlawR.O.C.]

Welp

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

A New York judge has ordered Dash to hand over his shares of the famed hip-hop label for his alleged refusal to pay a $823K judgment to movie producer Josh Weber.

Dash lost Weber’s defamation and copyright infringement lawsuit following a dispute over the 2016 film “Dear Frank.”

Both Jay-Z and Roc-A-Fella co-owner Kareem “Biggs” Burke object to the ruling, citing the company bylaws that mandate approval from the board of directors to sell off shares.

However, U.S. Magistrate Robert W. Lehrburger put in a 15-page decision that shut down Jay-Z’s and Burke’s objections and ruled that Dash’s one-third ownership of Roc-A-Fella is personal property that can be seized to satisfy his judgment.

Damon Dash Ordered to Sell Roc-A-Fella Records Shares Amid Jay-Z's Objection

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

www.blackenterprise.com

I'm sure Jay can just contact whomever purchases the rights and convince them to sell so it may work out in his favor.

This is actually the last thing they had that tied them all together.

 

[Princenubian]

Welp

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

A New York judge has ordered Dash to hand over his shares of the famed hip-hop label for his alleged refusal to pay a $823K judgment to movie producer Josh Weber.

Dash lost Weber’s defamation and copyright infringement lawsuit following a dispute over the 2016 film “Dear Frank.”

Both Jay-Z and Roc-A-Fella co-owner Kareem “Biggs” Burke object to the ruling, citing the company bylaws that mandate approval from the board of directors to sell off shares.

However, U.S. Magistrate Robert W. Lehrburger put in a 15-page decision that shut down Jay-Z’s and Burke’s objections and ruled that Dash’s one-third ownership of Roc-A-Fella is personal property that can be seized to satisfy his judgment.

Damon Dash Ordered to Sell Roc-A-Fella Records Shares Amid Jay-Z's Objection

Damon Dash is being forced to sell his Roc-A-Fella shares despite objections from his former friend and business partner, Jay-Z.

www.blackenterprise.com

Damn Dash

I said in a prior post….Dame is not a very likable character but in the words of keone

Damn Dash….hope he gets back on track

Carry on…..

 

[The Untouchable GDFOLKS]

so roc-a-fella records is a publically traded company? Never Knew.

 

[World B Free]

I guess it's time for Dame to make another Hov.....

 

[OutlawR.O.C.]

so roc-a-fella records is a publically traded company? Never Knew.

No. Only Dame, Jay and Biggs own the rights to the name and I believe the only assest is Reasonable Doubt.

 

[Non-StopJFK2TAB]

Jay Z and Kareem object? Who the hell do they think they are? Either cut the check or mind your business.

 

[Hey Julian!]

“Real bosses, sumthin, sumthin, sumthin…”

 

[RUDY RAYYY MO]

Crazy how a judge can just over rule that

 

[OutlawR.O.C.]

Crazy how a judge can just over rule that

I makes sense sense.

If the judge agreed to it that would mean no personal property or income could be seized to satisfy a judgement which wouldn't be logical.

He only ruled that Dame's percentage of the company can be seized along with any other assets to satisfy a judgement he's unwilling to pay.

I do think it would have been fair to give Dame and Biggs first rights to purchase it though.

 

[OutlawR.O.C.]

The irony is this was only about two months ago......

 

[christop]

Oh OK I see, so basically he has to sell his 33.3% of reasonable doubt. Didn't Jay want to buy it at one point anyway and Dame didn't want to sale it?

 

[OutlawR.O.C.]

Oh OK I see, so basically he has to sale his 33.3% of reasonable doubt. Didn't Jay want to buy it at one point anyway and Dame didn't want to sale it?

Yeah but Dame was talking some slick shit and apparently trying to run up the price.

Then at one point he attempted to sell his shares as an NFT.

Although apparently Dame was right saying he could sell his shares based on this judgement.

Dame's pride got him again. He should have just sold it to Jay and would have come out better.

 

[christop]

Yeah but Dame was talking some slick shit and apparently trying to run up the price.

Then at one point he attempted to sell his shares as an NFT.

Although apparently Dame was right saying he could sell his shares based on this judgement.

Dame's pride got him again. He should have just sold it to Jay and would have come out better.

Yeah I wonder how much it is worth? It honestly may be best for him to sell either way although he's going to lose some to the judgement. I would imagine Jay will try to find some way to buy it ultimately.

 

[TENT]

so roc-a-fella records is a publically traded company? Never Knew.

No. You don't have to be publicly traded to have shares (have an S-Corp).

 

[TENT]

I makes sense sense.

If the judge agreed to it that would mean no personal property or income could be seized to satisfy a judgement which wouldn't be logical.

He only ruled that Dame's percentage of the company can be seized along with any other assets to satisfy a judgement he's unwilling to pay.

I do think it would have been fair to give Dame and Biggs first rights to purchase it though.

Huh? They judge isn't interested in Jay or Biggs getting first rights to purchase.
He is interested in the plaintiff getting money owed.
Dame's shares have value. Jay and Biggs gonna have a new partner.
If I was that dude I would NEVER sell. I would keep it until they gave me a 100 million. Hahahaha.

 

[OutlawR.O.C.]

Yeah I wonder how much it is worth? It honestly may be best for him to sell either way although he's going to lose some to the judgement. I would imagine Jay will try to find some way to buy it ultimately.

I doubt it's worth much honestly since the only asset is Reasonable Doubt which is Jay's most acclaimed but lowest selling album.

I think it's more sentimental than anything.

The thing is people may just try to run up the price knowing Jay wants it.

 

[Database Error]

 

[Non-StopJFK2TAB]

I makes sense sense.

If the judge agreed to it that would mean no personal property or income could be seized to satisfy a judgement which wouldn't be logical.

He only ruled that Dame's percentage of the company can be seized along with any other assets to satisfy a judgement he's unwilling to pay.

I do think it would have been fair to give Dame and Biggs first rights to purchase it though.

He's not trying to sell. He was hoping one of the loser-ass partners bail him out for aesthetics. For the culture.

 

[TENT]

Yeah but Dame was talking some slick shit and apparently trying to run up the price.

Then at one point he attempted to sell his shares as an NFT.

Although apparently Dame was right saying he could sell his shares based on this judgement.

Dame's pride got him again. He should have just sold it to Jay and would have come out better.

He couldn't sell his shares as an NFT. That is impossible.
Dame was just trying to sell an NFT and people confused shit all the way the fuck up.
Don't even repeat that shit. Cause it is false news.

 

[OutlawR.O.C.]

Huh? They judge isn't interested in Jay or Biggs getting first rights to purchase.
He is interested in the plaintiff getting money owed.
Dame's shares have value. Jay and Biggs gonna have a new partner.
If I was that dude I would NEVER sell. I would keep it until they gave me a 100 million. Hahahaha.

Of course.

I'm saying they could have been given the option to match whatever the determined value or highest offer is.

Also, dude better sell since I don't think it's worth as much as people think and could even become worth less as time goes on.

Dame overplayed his hand and has no lost ownership. Dude better not be dumb and end up with nothing by doing the same.

 

[TENT]

Jay Z and Kareem object? Who the hell do they think they are? Either cut the check or mind your business.

No in the bylaws of company structure, there are rules for how shares are handled and sold.
They have every single right to object. It is their property. They agreed upon no outside owners without approval of all members. (This is standard)
So the judge is doing some bullshit and not respecting this corporate entity.

Dame's debts should be handled OUTSIDE of his ownership of Rocafella which he shares with other people.

 

[christop]

I doubt it's worth much honestly since the only asset is Reasonable Doubt which is Jay's most acclaimed but lowest selling album.

I think it's more sentimental than anything.

The thing is people may just try to run up the price knowing Jay wants it.

I'm not sure if that matters when you consider the artist and passage of time. Obviously it's a long term investment though, but it could be worth a lot.

 

[Non-StopJFK2TAB]

No in the bylaws of company structure, there are rules for how shares are handled and sold.
They have every single right to object. It is their property. They agreed upon no outside owners without approval of all members. (This is standard)
So the judge is doing some bullshit and not respecting this corporate entity.

Dame's debts should be handled OUTSIDE of his ownership of Rocafella which he shares with other people.

Dame is a fucking idiot.

 

[OutlawR.O.C.]

No in the bylaws of company structure, there are rules for how shares are handled and sold.
They have every single right to object. It is their property. They agreed upon no outside owners without approval of all members. (This is standard)
So the judge is doing some bullshit and not respecting this corporate entity.

Dame's debts should be handled OUTSIDE of his ownership of Rocafella which he shares with other people.

Dame was himself refuting this and stated the bylaws regarding his ability to sell his shares were changed after Biggs and Jay called a meeting to implement this that he was never informed of.

This may or may not be true but it could have been a factor in the judges ruling.

 

[TENT]

Dame is a fucking idiot.

Well yes. He needs to get his finances in order.
I would imagine he made enough in his lifetime to invest in mutual funds/index funds and have income coming in from interest and dividends.

I am NOT even gonna talk about risks like Real Estate, Restaurants, Inventions, Streaming, Movies etc

Shit he can direct music videos or tv sitcoms!! Earn a weekly check.

He is a purveyor of women and he had children and they spared no expense.

He should have "played the role" after Rocafella ended and accepted a desk job at Sony or Universal or Motown ...

But he doesn't play well with others in an industry where you NEED to play the role.

 

[Non-StopJFK2TAB]

Well yes. He needs to get his finances in order.
I would imagine he made enough in his lifetime to invest in mutual funds/index funds and have income coming in from interest and dividends.

I am NOT even gonna talk about risks like Real Estate, Restaurants, Inventions, Streaming, Movies etc

Shit he can direct music videos or tv sitcoms!! Earn a weekly check.

He is a purveyor of women and he had children and they spared no expense.

He should have "played the role" after Rocafella ended and accepted a desk job at Sony or Universal or Motown ...

But he doesn't play well with others in an industry where you NEED to play the role.

The guy is a fucking idiot. Do you not remember Dame Oil? I remember Dame Oil.

 

[OutlawR.O.C.]

The guy is a fucking idiot. Do you not remember Dame Oil? I remember Dame Oil.

 

[TENT]

The guy is a fucking idiot. Do you not remember Dame Oil? I remember Dame Oil.

Yeah typically these people from Harlem love to pump fake.
I think he had someone put a label on a bottle and told people he was selling motor oil.
Baby from Cash Money but a oil rig tattoo on his head didn't he? This was before the big red star.
Evidently his Bronald Oil company didn't make it.

 

[OutlawR.O.C.]

Yeah typically these people from Harlem love to pump fake.
I think he had someone put a label on a bottle and told people he was selling motor oil.
Baby from Cash Money but a oil rig tattoo on his head didn't he? This was before the big red star.
Evidently his Bronald Oil company didn't make it.

I forgot Baby had that tatoo and then covered it up

 

[Complex]

The guy is a fucking idiot. Do you not remember Dame Oil? I remember Dame Oil.

I forgot all about that

 

[OutlawR.O.C.]

Yeah typically these people from Harlem love to pump fake.
I think he had someone put a label on a bottle and told people he was selling motor oil.
Baby from Cash Money but a oil rig tattoo on his head didn't he? This was before the big red star.
Evidently his Bronald Oil company didn't make it.

I found it, the internet really is forever

 

[Non-StopJFK2TAB]

I found it, the internet really is forever

He got the tattoo to commemorate him buying an oil well.

 

[Mr. Met]

The guy is a fucking idiot. Do you not remember Dame Oil? I remember Dame Oil.

The Oil? Dame’s gonna be mad that you forgot the cookies and the paintings galleries.