Photo by: Frazer Harrison/Getty Images for Bacardi
Aht! Aht! Oh no, you don’t!
The social media platform Triller is being sued for $28 million by Swizz Beatz and Timbaland!
In January 2021, the renowned producers agreed to allow Triller to purchase Verzuz. However, the two producers state that Triller missed numerous payments to them.
The two are requesting $28 million in compensatory damages, $95,000 in interest, as well as attorneys’ fees and costs.
“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 states, according to the Washington Post.
Swizz, whose real name is Kaseem Daoud Dean, and Timbaland, whose real name is Timothy Mosley, claim in the lawsuit that they have been attempting to obtain the remaining proceeds from the transaction since the start of 2022.
The legal team for Swizz Beatz and Timbaland claims in the lawsuit, “The aforesaid defaults constitute material breaches of the agreement by defendants. By reason of defendants’ continuing uncured defaults, the sum of $28,095,000.00 is immediately due to be paid under the agreement.”
When the pandemic struck America in March 2020, Verzuz first appeared as an Instagram Live series showcasing, and celebrating Black musicians as they battled each other. Famous performers including Brandy vs. Monica, Jeezy vs. Gucci Mane, and Ashanti vs. Keyshia Cole were challenged by Swizz Beatz and Timbaland to compete in live musical battles on Instagram.
During the announcement of the deal, the producers gave Complex an optimistic statement.
“This is a momentous occasion not only for Verzuz and Triller but the music business as a whole,” the producers and Verzuz creators said. “By putting Verzuz in the Triller Network ecosystem and expanding the Verzuz brand to be side by side with the powerful Triller app, we will be able to continue to grow and evolve the music business as a whole, as we have been doing.”
They continued.
“To have partners in Triller who share our vision, specifically to celebrate and elevate the amazing artists who continue to shape culture around the world and give the consumer more direct access, is game-changing.”
In response to the lawsuit, Triller described it as a “misunderstanding.”
“We sincerely hope that this is nothing more than a miscommunication brought on by attorneys. We don’t want to air our dirty laundry in the media, but Swizz and Tim have received millions in cash and stock,” the company stated to TMZ.
Only a few weeks ago, Triller came under fire for allegedly failing to treat Black content creators as it had publicly stated.
In 2021, it came to light that the app had paid 300 well-known social media influencers yearlong contracts totaling $14 million, claiming that this was “the largest ever one-time commitment of capital to Black creators.”
After being promised $4,000 each month, with half coming in the form of equity, The Washington Post published an in-depth article at the beginning of August that revealed the alleged disregard of these payments to artists and their ensuing financial troubles.
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