Swizz Beatz & Timbaland – Triller Responds To $28 Million Lawsuit Filed By Them: They’ve Been Paid Over $50 Million In Cash, Only $10 Million Is In Question!

August 17, 2022 by Ariel Whitely in Music with 0 Comments

Swizz Beatz, Timbaland

Triller Responds To $28 Million Lawsuit Filed By Swizz Beatz & Timbaland, Producers Allege The Social Media Platform Missed Payments In Verzuz Deal

Triller has responded to the hefty lawsuit against them and said that they have paid Swizz Beatz and Timbaland millions of dollars to-date.

According to reports, mega producers Swizz Beatz and Timbaland are taking social media platform Triller to court for $28 million, claiming they are owed the sum amount after the media site bought the duo’s global music series “Verzuz” last year.

https://www.instagram.com/p/CElGaeiFOAr/?igshid=YmMyMTA2M2Y=

As previously reported, the record producers made a deal with Triller in January 2021 for the company to buy the “Verzuz” web series. The amount was undisclosed, but sources say it’s

“clear that sum was in the mid-eight figures.”

Reportedly, a lawsuit filed on Tuesday (August 16) in Los Angeles Superior Court alleges that the TikTok competitor began missing payments in January this year. The suit reads,

“To date, Defendants have failed and refused to make any payment to [Swizz Beatz and Timbaland] of the past due sums due and owing.”

According to Tuesday’s lawsuit, Triller sent its first two installments in January 2021 and April 2021. However, when a further cash payment was due in January of this year, the producers said the video-sharing platform did not follow through.

The suit reportedly said that a new payment plan was reached, and Triller made the first payment under the new plan in February. The company was then required to pay another $9 million to each super producer by March 17, in addition to another $500,000 apiece every month for 10 months. Swizz Beatz and Timbaland allege those payments have not been made.

A representative for Triller released a statement and said,

“This is not a feud over VERZUZ, but simply about earn-out payments to Swizz and Tim. Swizz and Tim have personally been paid by Triller over $50 million in cash and stock to-date, and they stand to benefit even more over time. In addition, they have annual obligations, which if met, and no breach has occurred, entitles them to additional payments.”

They added,

“Only one payment of $10 million is in question. We do not believe they have met the thresholds for that payment yet, which include, but are not limited to, delivery of a set number of VERZUZ events for 2022. We have been trying to resolve this amicably and this does not affect VERZUZ operations or Triller’s ownership of VERZUZ. If this does proceed in court, we look forward to a judgment that weighs all the facts.”