jay-z & foxy brown*Foxy Brown is one pissed off woman today! So what’s got her panties in a bunch, you ask?

Ms. Brown is extremely upset over a recent report that first saw life in Media Take Out that says she went to a baby shower and started dishing about Jay-Z’s sex life to one of the guests … that he secretly engages in gay sex and that she lost her virginity to him when she was 15 and he was 27.

She insists she never referred to Jay-Z as a gonorrhea-infected “tranny chaser” … and now she’s threatening to sue.

Foxy told TMZ, the report is bogus to the bone

“The atrociousness of this story sickened me to my stomach. Any and everyone involved will be contacted by my attorney.”

(Wow, Foxy knows how to use big words like “atrociousness.” We’re impressed, but we digress.)

Foxy continues, saying: “In all my years in the music industry, these are the most disgusting and disrespectful allegations I’ve ever experienced. This fictitious story … with NO audio, visual or written interview, clearly was concocted with malicious intent.”

“Jay has only been wonderful to me and my family, a great friend throughout all the years I’ve known him and we had nothing but great success as a team.”

“Beyonce, his wife, has always been gracious and sweet to me … I will NOT let any undercover hater create discord and disrespect my name and reputation.”

“This disrespect will NOT be tolerated.”

Hmm, wonder what Media Take Out’s response will be? We’re sure they’re trying to come up with something to cover their ass. They’ll need to … if Foxy’s rebuke is true.