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Innisfree Filed A $1.9M Lawsuit Against Twitter

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Innisfree M&A is suing Twitter for $1.9 million in unpaid bills.

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Twitter is in default of its obligations to Innisfree as of December 23, 2022.

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The lawsuit was filed in New York State Supreme Court.

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Elon Musk completed the acquisition of Twitter for $44 billion in October 2022.

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Twitter is also facing legal action from Britain's Crown Estate over unpaid rent.

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Advertising spending on Twitter dropped by 71% in December 2022.

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The banks financing Musk's acquisition of Twitter abandoned plans to sell debt to investors.

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Twitter made its first interest payment on a loan from banks last month.

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A lawyer for Innisfree and Twitter did not immediately respond to comment requests.

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The decline in advertising spending and uncertainty around Twitter's future led to the banks' decision not to sell debt to investors.

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