The record label started by JAY-Z, Damon Dash, and Kareem Burke is suing its co-founder in a first-of-its-kind lawsuit, alleging that Dash is trying to auction off JAY-Z’s debut album Reasonable Doubt as a non-fungible token (NFT).
According to TMZ, Dame is trying to sell the album as an NFT and auction it off to the highest bidder. However, Roc-A-Fella says it’s not his to sell, because the company owns it.
According to legal documents filed Friday in New York’s Southern District Court, Dame planned to sell the album as an NFT at an auction that has since been canceled. However, the label is worried that he will attempt to auction it off on another platform.
Lawyers for JAY-Z state, “Dash had planned to sell at a SuperFarm Foundation online auction on Jun. 23… the copyright to JAY-Z’s album Reasonable Doubt, recognized as one of the greatest recordings in history. That auction was canceled and Dash is frantically scouting for another venue to make the sale.”
Roc-A-Fella says that the sale “must be stopped before it is too late,” adding that Dash “must be held accountable for his theft.”
JAY, Dash, and Burke each own one-third of the shares in the record label and in Reasonable Doubt, according to paperwork. “Dash can’t sell what he doesn’t own. By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties. The court should stop Dash….and hold him accountable for his brazen theft,” the lawsuit concludes.
This is the latest legal battle involving Reasonable Doubt. Earlier in the week, JAY-Z sued Jonathan Mannion, claiming that the famed photographer is trying to exploit his name by selling photos he shot for JAY-Z’s 1996 debut without the rapper’s permission.