According to The Hollywood Reporter, the lawsuit claims that Triller started defaulting on payments in January 2022. Since the initial missed payment, Swizz Beatz and Timbaland agreed to a settlement in February. In that agreement, Triller was required to pay $9 million to both men by March 17. After that, the social media company would owe an additional $500,000 on the first of each month for the next ten months.
Additionally, the timeline for this payment arrangement would have been expedited if a proposed merger with SeaChange International closed. The settlement agreement also included $120,000 for Timbaland and Swizz Beatz’s legal fees. However, the deal was allegedly not held up.
“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 court documents read.