Photo Credit: Moneybagg Yo (Instagram)

A former manager of rapper Moneybagg Yo is suing him, his label, and his current management company, Roc Nation, for alleged breach of contract.

Memphis rapper Moneybagg Yo, whose legal name is Demario DeWayne White Jr., has been slapped with a multi-million dollar lawsuit by his former manager for breach of contract. Sherry Jackson-Floyd claims to have played a pivotal role in launching the rapper’s career before she was cast aside, and now she’s seeking over $100 million in damages.

The lawsuit was originally filed in 2019 before being amended in 2022. The case will go to trial in Shelby County, Tennessee, in October, and both parties are due back in court on July 16.

In her amended complaint, Jackson-Floyd says she began working as the rapper’s manager in 2016 under mere “handshake agreements.” These allegedly promised her a share of Moneybagg’s earnings, as well as a salary and other perks through his company, Bread Gang Enterprises. Roc Nation, which is also named in the complaint, later took over management without honoring her earlier agreed-upon financial perks.

According to the filing, Bread Gang Enterprises promised Jackson-Floyd $5,000 a week, a $150,000 Mercedes G-Wagon, and one-third of Moneybagg’s revenue, plus reimbursements and other compensation. She says the rapper benefited from her money at the start of his career and it was therefore unfair for her to not be paid what she was promised. Further, she claims that Roc Nation interfered with her business relationship when they got involved and expected profits.

She also said that as his personal and business manager, she registered trademarks, filed necessary documents to legally recognize his brand, and handled day-to-day operations. The rapper would allegedly call her, and she would pay off credit cards for him, as well as spending her own money on jewelry and other perks for Moneybagg, and even took care of “a number of his children,” of which he has eight.

Now, the amended complaint says that Moneybagg failed to make timely payments on the Rolls-Royce on which she put $125,000 down, as well as other accounts linked to her credit cards, which ultimately hurt her credit score and led to her being fired from her banking job.

Jackson-Floyd is asking for a jury trial and at least $100 million in compensatory damages, as well as punitive damages from Roc Nation. She’s also asking for a constructive trust granting her one-third of revenues dating back to January 1, 2017, and a full accounting of the artist’s earnings since then.