U.S.\u002Dbased advisory firm Innisfree M\u0026amp\u003BA Incorporated sued Twitter on Friday in New York State Supreme Court, seeking about $1.9 million.
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“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 said.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
Advertising spending on Twitter Inc dropped by 71% in December, data from an advertising research firm showed, as top advertisers slashed their spending on the social-media platform after Musk’s takeover..The banks providing $13 billion in financing last year for the Tesla chief executive’s acquisition of Twitter abandoned plans to sell the debt to investors because of uncertainty around the social media company’s fortunes and losses, Reuters reported last month.
Twitter made its first interest payment on a loan that banks provided to help finance Musk’s purchase of the social media company last year, Reuters reported last month.
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