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  "notes": "The slide highlights financial and legal liabilities of Triller, serving as a 'villain critique' or 'preempt rebuttal' to potential investment narratives.",
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      "text": "The company issued unsecured Convertible Promissory notes in the aggregate principal amount of $37.0 million in full settlement of various claims the former owners had brought in connection with post-closing obligations.",
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      "text": "Triller only paid $2.0 million in cash and issued 2,202,642 Class B Units to former shareholders of Verzuz in relation to the Amendment. Due to this, the following happened after On September 22, 2022:",
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      "text": "Timbaland and Swizz created Verzuz in 2020 as a webcast that pits two artists and their music against each other. Triller acquired the series on January 27, 2021, and as part of the deal, the duo joined Triller’s management team and also became shareholders in its parent company, Triller Network. Initially, Triller had agreed to pay Swizz Beatz and Timbaland $30.0 million in cash, including $1.0 million per month over 10 months starting from April 1, 2022, and $25.0 million in equity by issuing 2,202,642 Class B Common Units.",
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      "text": "The company issued unsecured Convertible Promissory notes in the aggregate principal amount of $37.0 million in full settlement of various claims the former owners had brought in connection with post-closing obligations. As part of this agreement, Triller is required to make a minimum installment payment of $9.0 million within twelve months of December 31, 2022.",
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      "text": "On 8/12/23, Reuters published an article by Blake Brittain indicating the end of the copyright case over Triller’s platform’s music use. The article states: Sony Music sued Los Angeles-based Triller last year (2022). It accused the TikTok rival of failing to make payments under a licensing agreement and committing “massive” copyright infringement by streaming its music without a license since breaking the contract.",
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      "text": "The lawsuit cited more than 50 songs that Triller allegedly misused by artists including Britney Spears, Harry Styles, and Janis Joplin. 22, 2022, Plaintiffs filed a First Amended Complaint or the Complaint, against we are alleging claims for breach of contract, copyright infringement pursuant to 17 U.S.C. § 1401, contributory copyright infringement, and vicarious copyright infringement. On May 16, 2023, the court entered partial final judgment in favor of Plaintiffs on Plaintiffs’ breach of contract claim and ordered the Company to pay Plaintiffs $4.6 million.. Thereafter, the Company and the Plaintiffs entered into a Confidential Settlement Agreement dated July 21, 2023 to resolve Plaintiffs’ remaining claims and provide for an agreed plan for payment of the judgment",
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