Less than 24 hours after news of Swizz Beatz and Timbaland’s lawsuit Triller for $28 million in connection with their Verzuz acquisition, the company has officially responded. Through a newly released statement, Triller claims that not only have Swizz Beatz and Timbaland been paid a substantial amount, but that both hip hop producers have not yet met the additional requirements to be paid. more.
@TMZ exclusive reporting, Triller is return fire against the multi-million dollar lawsuit filed by Swizz Beatz and Timbaland against them — and their sides are so different because it involves Verzuz and allegedly owes money. A Triller rep released an official statement saying, “This is not a feud against Verzuz, but simply about the earned payments to Swizz and Tim. As of now, Swizz and Tim have been paid more than $50 million in cash and stock by Triller, and they’ve benefited even more over time. In addition, they have annual obligations that, if met and no breach occurred, they will be paid extra. “
Triller went on to claim that Swizz and Timbaland failed to fulfill the original terms of their agreement:
“Only a $10 million payout is in question. We do not believe they have met the thresholds for that payment, including, but not limited to, the delivery of certain Verzuz events for 2022. We have attempted to resolve this amicably. and this does not affect Verzuz’s operation or Triller’s Ownership of Verzuz. If this proceeds in court, we expect a ruling that weighs all the facts.”
As we previously reported, the lawsuit filed by Swizz Beatz and Timbaland reads, “To date, Defendants have failed and refused to make any payments to [Swizz Beatz and Timbaland] past due amounts and liabilities. “
You will recall that Verzuz was officially sold to Triller in January 2021, a decision that was met with immediate criticism from fans.