The two mega producers are suing over Verzus rap-battle deal gone wrong
Triller refused to make payments after the virtual battle series was sold to the company. The video-sharing social networking service failed to uphold its bargain when it decided to sell its Verzuz platform. Timbaland and Swizz Beatz founded the Verzuz virtual battle series in March 2020. Not more than a year later they agreed to sell it to Triller with specific terms that are not disclosed.
Publications on the court documents state that Triller defaulted on it’s payment arrangements after two months. The duo had originally settled, splitting $18 million), with Triller after the first default, but according to them Triller defaulted again. The agreement was to pay $1 million per month for 10 months. It is alleged that Triller has not made any of the promised payments.
“To date, Defendants have failed and refused to make any payment to [Swizz Beatz and Timbaland] of the past due sums due and owing,” according to the lawsuit, filed Tuesday in Los Angeles County Superior Court. “The aforesaid defaults constitute material breaches of the Agreement by Defendants.”
They are now seeing $28,095,000 in damages, plus interest, legal fees, and “other and further relief as this Court deems just and proper.
We shall continue to follow the story to see the outcome.