Attorneys for Jay-Z‘s Roc-A-Fella Records say they’re in talks to settle their lawsuit against Damon Dash over his plan to auction off his stake in the album Reasonable Doubt as an NFT – but that they’ll win the case anyway if a deal isn’t struck.
In a filing Tuesday in Manhattan federal court, Jay-Z’s attorney Alex Spiro said both sides were “in the process of meeting and conferring to determine whether they can reach a settlement agreement that would resolve this case.”
But if such a deal isn’t reached, Spiro said he and Hov plan to file a motion seeking a full victory in the case, and an injunction permanently banning Dash from trying to sell any portion of the iconic album. The attorney claimed that Dash had admitted during litigation that he lacks the right to do so.
Roc-A-Fella Records sued Dash, the label’s co-founder, last summer after news broke that Dash was planning off to auction off a portion of Reasonable Doubt, Jay-Z’s 1996 debut album, in the form of an NFT, or non-fungible token.
Repped by Spiro, Roc-A-Fella argued that the rights to the album were owned by the company, not the individual partners themselves, and that Dash’s one-third ownership in the label didn’t give him a right to sell off its “most prized asset” — as an NFT or otherwise.
“The sale of this irreplaceable asset must be stopped before it is too late, and Dash must be held accountable for his theft,” the June lawsuit read. “The bottom line is simple: Dash can’t sell what he doesn’t own.”
A judge quickly issued a restraining order barring any form of sale from going forward while the case plays out. Dash has since said he was only trying to sell his stake in Roc-A-Fella, not the actual rights to the album. Little has happened in the case since.
Tuesday’s letter asked for an extension of time – until April 1 – to let settlement talks play out.