./uploads/advanced-cache.php Twitter sued by advisory firm Innisfree over $1.9 million worth of unpaid bills

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Twitter sued by advisory firm Innisfree over $1.9 million worth of unpaid bills

Twitter sued by advisory firm Innisfree over $1.9 million worth of unpaid bills
Reportedly, Innisfree has not heard back from Twitter since December 23 as it sought about $1.9 million worth of unpaid bills.

 

Innisfree, a U.S.-based advisory firm, has sued Twitter for not paying bills worth $1.9 million for its services rendered in acquiring the microblogging platform. The lawsuit has been filed in the New York State Supreme Court, according to a Reuters report.

 

“As of December 23, 2022, Twitter remains in default of its obligations to Innisfree under the agreement in an amount of not less than $1,902,788.03,” the lawsuit stated; adding that the firm first sent an invoice to the social media platform around September 26 and Twitter acknowledged the invoice on September 28.

 

After not receiving the payment, Innisfree then followed up twice in December and then sent a letter to Twitter in December through a lawyer. The advisory firm has not heard back from the company since then, according to a report by the New York Times.

 

Musk acquired Twitter in October last year for $44 billion, part of which has been financed via debt. The Tesla chief also offloaded shares in the electric-vehicle company to fund his Twitter takeover. Last month, the social media giant reportedly made the first interest payment of around $300 million on the $12.5 billion worth of debt.

 

Following Musk’s takeover, the Blue Bird has managed to garner regular headlines about mass layoffs, weakening content moderation policies, a surge in fake accounts, and re-activation of accounts of some controversial celebrities. Since the change in ownership, Twitter is also fighting to retain advertisers, and last year launched Twitter Blue with the view of growing revenue.

 

Twitter is also undergoing several legal proceedings relating to non-payment of rent for its offices and other services acquired by the company. The company was sued last year by a private jet company for non-payment of $197,725 for flights taken by a former executive during the closing of the Twitter acquisition deal, the NYT reported. The social media platform is also facing a lawsuit in London over its failure to pay rent, the report added.

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