Tuesday, January 31, 2023

Twitter faces lawsuit over unpaid rent

LONDON ( Associated Press) – Twitter is facing a series of lawsuits over unpaid rent at its San Francisco headquarters and offices in Britain, a new legal headache for its billionaire owner Elon Musk, who is seeking to cut costs. Is.

One of the lawsuits is over unpaid rent on the headquarters, according to California court documents. On the other hand, the owner of its premises in London says he will sue the company for its debts.

Musk is slashing costs because its $44 billion purchase of Twitter last year left the company $1 billion in debt annually in interest. This month he was already facing another lawsuit over late rent payments for another office in San Francisco.

For the past few days, Musk has been testifying in a class action lawsuit by Tesla investors who alleged that his 2017 tweets misled him about funding to delist the electric car maker.

The Tesla CEO’s strategy to cut Twitter costs also includes massive job cuts and auctioning off high-end office items and furniture.

Twitter did not respond to a request for comment. Its communications division was spun off after Musk acquired the company.

The owner of the San Francisco headquarters, which is located at 1355 Market Street, a major artery in the city, is suing because Twitter failed to pay last month’s rent, according to documents filed Friday in California Superior Court.

The debt is $3.4 million, according to the company that owns it, Mr. Nine Market Square LLC.

In Britain, the Crown Estate has launched a lawsuit against Twitter after the company fell behind on paying rent for its offices near Piccadilly Circus in central London.

A spokeswoman for the Crown Estate, which owns some of London’s most expensive properties, said it took the step after being contacted on Twitter about unpaid rent and was still in talks with the company without further comment. .

The Crown Estate is a vast portfolio of properties, including some Crown.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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