Jay-Z, Damon Dash, and Kareem “Biggs” Burke founded Roc-A-Fella Records in 1994.Dash is currently auctioning off his one-third stake in the label to pay the $823,000 that he owes to film producer Josh Webber, as well as the $145,000 he owes for unpaid child support, plus a whopping $8.7 million he owes in taxes.
Now, New York City says Jay-Z is sabotaging the auction.According to AllHipHop, the rapper is allegedly making misleading claims to devalue the stock and hinder potential bids.
Jay-Z publicly stated that the rights to his album Reasonable Doubt will revert to him in 2031, which the City of New York asserts is not true.The contract signed in 1995 states grants RAF ownership of the copyright until 2098.
In addition, Roc-A-Fella lawyers have been accused of refusing to provide critical royalty information in response to a subpoena.Dash called out Jay-Z in an Instagram post about the situation on Sunday.
“The State of NY has stepped in and filed the following to the courts,” he began in the caption, continuing: ...