© Reuters. FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. REUTERS/Brendan McDermid
(Reuters) – U.S.-based advisory firm Innisfree M&A Incorporated sued Twitter in New York state Supreme Court on Friday, seeking around $1.9 million for what it says are unpaid invoices after who advised the social media company on its acquisition by Elon Musk last year.
“As of December 23, 2022, Twitter remains in default of its obligations to Innisfree under the Settlement in an amount of not less than $1,902,788.03,” the lawsuit says.
Twitter and a lawyer for Innisfree did not immediately respond to a request for comment.
Musk closed in October on the $44 billion deal announced in April of that year and took Twitter private.
Last month, Britain’s Crown Estate, an independent trading company that manages the monarchy’s portfolio of properties, said it had launched legal proceedings against Twitter over alleged unpaid rent for its London headquarters.
advertising spend on Twitter Inc. (NYSE:) fell 71% in December, data from an advertising research firm showed, as major advertisers cut spending on the social media platform after the Musk acquisition.
The banks that provided $13 billion in financing last year for the Tesla (NASDAQ:) CEO’s takeover of Twitter abandoned plans to sell the debt to investors amid uncertainty surrounding fortunes and losses. of the social media company, Reuters reported last month.
Twitter has made its first interest payment on a loan banks made to help finance Musk’s purchase of the social media company last year, Reuters reported last month.
