Dame Dash has accused JAY-Z of attempting to disrupt the public auction of his one-third ownership stake in Roc-A-Fella Records.
The City of New York has requested a stay in the auction following comments made by Hov about the copyright ownership regarding his seminal debut album Reasonable Doubt.
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Jay claimed that the copyright to the album reverts back to him in 2031, but the City is now alleging that is, in fact, false and deliberately damaging to the auction process.
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The City has claimed that the album’s copyright will continue to be held by Roc-A-Fella until 2098 and have accused the label of not providing proof of royalties that the album generates.
Dame also hit out at his former business partner on Instagram, writing: “The State of NY has stepped in and filed the following to the courts…Jay-Z’s statements to the press have poisoned the environment for the auction. He has claimed that he has a termination right under the Copyright Act and that the rights to Reasonable Doubt will revert to him in six years.
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“In fact, he has no such termination right and RAF is entitled to the renewal term, which is now 67 years meaning it will own the copyright rights until the year 2098. In other words, the highest possible auction price could be more than ten times higher than is likely now, given Jay-Z’s and [Roc-A-Fella’s] actions. [Roc-A-Fella] is complicit by its inaction in pushing back against such false statements.”
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The auction for Dame Dash’s shares in the legendary label he co-founded was originally set to take place in late August but has been delayed to September due to both the State and City of New York claiming the mogul owes almost $10 million, in addition to his nearly $1 million debt to film producer Josh Webber.
The auction was ordered by the court to pay Dash’s debt to Webber after losing a copyright infringement lawsuit over the movie Dear Frank.
