Twitter sued for failing to pay over R116 million in rent

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The social media company failed to pay the $3.36 million December rent for its offices at 1355 Market Street and the $3.42 million for January rent, Sri Nine Market Square LLC, the owner of the building, said in a lawsuit filed Monday in state court in California.

Under new owner Elon Musk, Twitter Inc. quit paying rent on its San Francisco headquarters in December, according to a lawsuit filed by the landlord.

Those measures come as Musk is facing his first payment on the $12.5 billion in debt he took on to acquire Twitter. Twitter rents more than 460,000 square feet of space on eight floors of the San Francisco building, according to the complaint.

Source: News Formal (newsformal.com)

 

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