Damon Dash's Roc-A-Fella Records Stake Heads to Auction Block After $823,000 Judgment
Damon Dash's one-third stake in Roc-A-Fella Records will be auctioned on August 29 in New York City, following a court order to satisfy an $823,000 judgment owed to movie producer Josh Webber. The auction stems from a defamation and copyright infringement lawsuit over the 2016 film Dear Frank.
Damon Dash wearing pink sweatshirt
Despite objections from co-owners Jay-Z and Kareem 'Biggs' Burke citing company bylaws, Magistrate Judge Robert W. Lehrburger ruled that Dash's stake qualifies as a personal asset and can be sold to satisfy personal debts. The judge's 15-page decision emphasized that the RAF By-Law's prohibition on transfer and sale without board consent cannot prevent the sale to satisfy the judgment.
The United States Marshals Service will conduct the auction at a Midtown Manhattan hotel. Interested buyers must:
- Place a minimum bid of $1.2 million
- Provide a $240,000 deposit to participate
The sale proceeds will also help satisfy a $145,096 debt in unpaid child support owed to Rachel Roy and Cindy Morales for three children.
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Beyoncé performing in a white outfit
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