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Memphis-based rap star MoneyBagg Yo and Jay-Z’s record label Roc Nation have found themselves in hot water. After the rap star’s former manager filed a nine-figure lawsuit against them.
Moneybagg Yo & Roc Nation Sued For $100 Million
According to a Tuesday (June 22) report from News 3 Memphis, Moneybagg Yo’s ex-manager, a woman named Sherry Jackson-Floyd, is suing both entities. For breach of contract.
According to the report, Jackson-Floyd claims to have played a pivotal role in the success of the rap star (born Demario DeWayne White Jr). Before she was ousted and replaced by Roc Nation at the height of his success. And now she is seeking damages — to the tune of $100 million.
In a statement to the outlet, Jackson-Floyd’s attorney, Ralph Gibson, says that Roc Nation is also responsible. Because they were aware that White was already under contract.
“It’s also intentional interference or interference with contract on the part of Roc Nation, because they knew that this contract existed between Miss Floyd and this Mr. White, otherwise known as Moneybagg Yo, and they nevertheless went forward with it. It’s a commercial contract case,” Gibson said.
In addition, Jackson-Floyd claims she fronted the rap star’s money for expenses that funded his music career. Such as $125,000 for a Rolls-Royce and between $1 million and $2 million that went toward building the “Moneybagg Yo brand.”
As for Roc Nation’s role in the lawsuit? Jackson-Floyd claims that she has text messages that show they were aware of her role as the rapper’s manager. As well as her investments in the brand. But they did not offer her a buyout and still went forward with taking him on as a client on their roster.
In short, Jackson-Floyd claims that Moneybagg could not have reached the level of superstardom he currently has without her services.
At the time of writing, neither Moneybagg Yo nor Roc Nation has spoken out about the lawsuit.
