Timbaland & Swizz Beatz Sue Triller For $28 Million
Swizz Beatz & Timbaland Suing Triller For $28 Million For Failing To Buy Verzuz
Swizz Beats and Timbaland struck a deal with Triller in 2021, but they say the streaming platform defaulted in January and hasn’t paid since.
The iconic producers filed a lawsuit on Tuesday (Aug. 16), claiming the social media platform owes them more than $28 million, according to various reports.
Triller acquired the platform created by Swizz Beatz and Timbaland back in January 2021 for an undisclosed sum. Swizz told Variety: “We needed a team that wasn’t scared and were super-disruptors and risk-takers. You can find companies that have a load of money, but they’re not thinking disruptively or strategically.”
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However, Swizz and Timbaland allege Triller began missing payments in January 2022, according to the complaint filed in L.A. County Superior court. “To date, Defendants have failed and refused to make any payment to [Swizz Beatz and Timbaland] of the past due sums due and owing,” the suit reads, as per Washington Post.
Timbaland and Swizz Beatz were made Shareholders in Triller Network, and the deal was to be paid in installments. The first was due when the deal was closed, with another payment shortly after. Two more payments were due on the first and second anniversaries of the deal.
Triller was to pay the pair $18 million no later than March 17, then £1 million on the first of the month for ten months. However, the suit alleges Triller paid the first two but defaulted on the agreement in January and hasn’t paid anything since.
In April, Timbaland and Swizz Beatz sent Triller a notice and demand for payment, but Triller still refused to pay.
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