Swizz Beatz and Timbaland settle lawsuit against Triller
A month ago, Verzuz founders Swizz Beatz and Timbaland filed a $28 million lawsuit, against Triller. That stems from the two suing that platform, for not paying the rest of the $28 million purchase, of Verzuz. That purchase was initially made in March 2021. Payments for Verzuz stopped in January, as Timb and Swizz reportedly didn’t receive $18 million for March, nor $1 million per month, for the remaining months of the deal.
The status of Verzuz overall seemed to be up in the air, amid the lawsuit. Now, Timbaland and Swizz have officially reached a settlement in this lawsuit, according to Variety. This settlement revealed that it will “increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal.”
Swizz Beatz and Timbaland also released a statement, following this successful settlement, for both sides.
“Verzuz has always been a platform that is by the artists, for the artists and with the people. We’re glad to come to an amicable agreement with Triller and continue giving fans the music and community that they’ve come to know and love from the brand.”
Bobby Sarnevesht, Triller’s executive chairman and co-founder, also spoke on moving forward with Swizz Beatz and Timbaland, in the right direction.
“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that,” said Bobby Sarnevesht, Triller’s executive chairman and co-founder. “Nothing will change that. Creators started this and will continue building it. This is a victorious moment in the Triller and Verzuz relationship as we march together toward the public markets. Stay tuned.”
Swizz Beatz and Timbaland settle lawsuit against Triller
