6:13 AM PT -- 8/17 -- A rep for Triller tells us, "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."
They continue, "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."
The big time music producers are suing Triller, claiming the video-sharing social networking service failed to pay up for the cash cow Swizz and Timbaland dreamed up -- Verzuz.
According to the lawsuit, obtained by TMZ, Swizz and Timbaland agreed to sell Verzuz to Triller back in January 2021 … but they say Triller defaulted on the deal after only two payments.
Swizz and Timbaland say they settled with Triller after the initial default, but they say Triller played the same game as before ... making one installment and then not paying up the remaining balance.
The music moguls are going after Triller for more than $28 million … plus interest.
We reached out to Triller ... so far no word back.
Originally Published -- 8/16 6:27 AM PT