In response, a Triller spokesperson said that the company has paid “over $50 million” in cash and stock to Swizz and Timbaland to date. The dispute concerns earn-out payments — and, according to Triller, the duo have not met the threshold for receiving the additional money.
“This is nothing more than a performance dispute,” the Triller rep said in an emailed statement. “Only one payment of $10 million was in question. We don’t believe they have met the thresholds for that payment yet, but have been trying to resolve it amicably.”
The Triller spokesperson continued, “It is unfortunate they elected to elevate this to the press as a ‘legal shakedown’ and it ignores the fact that they have deliverables which include, but are not limited to, delivery of a set number of Verzuz for 2022. We hope this was just overzealous lawyers jumping the gun… If this does proceed in court we look forward to a judgment that weighs all the facts.“
The lawsuit filed on behalf of Swizz Beatz and Timbaland seeks $28,095,000 in damages, plus applicable interest, as well as legal fees and “other and further relief as this Court deems just and proper.”
