New York, NY – JAY-Z and Roc-A-Fella Records reportedly scored a victory in court on Tuesday (June 22). According to TMZ, a judge ruled Roc-A-Fella co-founder Damon Dash is prohibited from selling Hov’s 1996 debut Reasonable Doubt as a non-fungible token (NFT) — at least for now.
The ruling is only temporary, but sources close to the case said the federal judge determined JAY-Z and Roc-A-Fella’s arguments were “credible and correct.” However, more filings from Damon Dash’s side are likely to follow.
Roc-A-Fella and high profile attorney Alex Spiro filed the lawsuit on Friday (June 18), claiming Damon Dash has no rights to auction off Reasonable Doubt as an NFT.
Although the auction never took place, Dash was still accused of “frantically scouting for another venue to make the sale” in an attempt to collect what he believes he’s owed. But Dash begs to differ and says the lawsuit is “full of inaccuracies,” pointing out it’s not just Reasonable Doubt he’s trying to sell. Rather, it’s his entire stake in Roc-A-Fella Records.
He claims JAY-Z attempted to buy his one-third share of Roc-A-Fella in March at a price he “deemed unacceptable,” so he’s simply looking for another buyer. When and if he finds the buyer, Dash says, “Under the terms of the deal with a potential buyer, the buyer would buy my share of Roc a Fella Records and JAY-Z will have exclusive administration rights.”
Dash believes the lawsuit is “a scare tactic to prevent him from selling something he believes he has the legal right to sell.” After all, Damon Dash is listed as an executive producer on Reasonable Doubt, has dialogue on the album and is photographed for the CD booklet.
But for now, he won’t be collecting any NFT profits from the classic album.