An auction had been set for June 23-25, according to the complaint, but it was canceled after Roc-A-Fella sent a warning letter to SuperFarm. The label was concerned Dash might still pursue a sale, so it asked the court to issue a temporary restraining order.
During a Tuesday morning hearing, U.S. District Court Judge John Cronan asked why monetary damages wouldn’t suffice. Alex Spiro, representing the record company, answered, “A lot of it has to do with the uniqueness added to the unique industry.”
Dash and his lawyers didn’t show up for hearing, but Spiro said they were served papers and had previously responded to a cease and desist. Dash’s side has also commented about the dispute in the media where they said they really wanted to sell shares in Roc-A-Fella.
Cronan said Jay-Z’s record label was likely to prevail on merits. He pointed to Jay-Z’s declaration that Roc-A-Fella owned copyright. He also nodded as precedent to the case where J.D. Salinger stopped an unauthorized sequel to Catcher in the Rye.
Specifically, the judge said the label was likely to prevail on claims of breach of fiduciary duty, conversion, and unjust enrichment. Roc-A-Fella won’t have to put up a bond, but it will have to continue to fight as the parties will next debate whether the TRO becomes a preliminary injunction.
This article was originally published by The Hollywood Reporter.
