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Damon Dash’s Roc-A-Fella Shares Will Be Auctioned to Pay Legal Judgments — But There May Be a Catch
Damon Dash’s Roc-A-Fella shares will be auctioned to pay off judgments and unpaid child support owed by the label co-founder.
The owners of the other two-thirds of Roc-A-Fella — label cofounders Jay-Z (Shawn Carter) and Kareem “Biggs” Burke — have already attempted to stop the auction, including making changes to the company’s bylaws and intervening in the lawsuit. The chance to own a valuable piece of rap IP will surely draw bidders, but a source with knowledge of the situation tells Billboard that there are important limitations to what is being auctioned off — namely, that they are buying a stake in a company with other members. The source also cautioned that the clock was ticking on Roc-A-Fella’s rights to Reasonable Doubt: “There’s also an expiration date on the master ownership for the company, which means revenue and the only asset doesn’t have many years left.”
Or read this on Billboard
