Dame Dash – Source: Monica Morgan / Getty
Dame Dash recently 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. but if you let him tell it, everything is under control and we should stop being “chatty patties.”
Now 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 that Dash has avoided handing over the $823,000 he was ordered to pay.
Of course, you’re probably wondering how the other founders, Jay-Z and Kareem “Biggs” Burke feel about this and according to Complex, this is the first time in decades that all three founders have been on the same page.
All three reportedly oppose the ruling and believe that any major sale should be approved by the board of directors.
“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,” U.S. Magistrate Robert W. Lehrburger 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.”
What do YOU think about this latest news about Dame Dash?