Swizz Beatz and Timbaland sold their COVID baby Verzuz to video-sharing social networking service Triller in January of 2021. As part of the deal, Swizz and Tim joined Triller to oversee their music department
The pair say Triller defaulted on the deal after only two payments.
They were all able to come up with new terms after the initial default. However, Triller defaulted on the renegotiated deal after one payment.
Now Swizz and Tim are suing Triller for $28 million.
Triller is pushing back on the lawsuit.
"This is truly unfortunate and we hope it is nothing more than a misunderstanding driven by lawyers. We do not wish to air our dirty laundry in the press, but we have paid Swizz and Tim millions in cash and in stock. No one has benefited as much from Triller to date. Triller has helped fuel VERZUZ to new heights - making it the global cultural phenomenon it is today. We hope to resolve this amicably and quickly, and truly hope it's just a misunderstanding. If we are forced to defend it, we are more than optimistic the truth and facts are on our side," a Triller rep told TMZ.
We suspect the "millions" Triller paid Swizz and Tim were much heavier on "stock" than "cash" ...