Twitter Inc. is getting sued by the landlord of its San Francisco headquarters, which accuses Elon Musk’s social-media organization of not paying out just about $7 million in rent in December and January.
In a lawsuit submitted Friday in California Excellent Court in San Francisco, SRI Nine Market place Sq. LLC claimed Twitter breached the phrases of its lease in December by not building its regular monthly lease payment of just about $3.4 million, for which it submitted a notice of default on Dec. 5, 2022. In accordance to the match, the landlord recouped that amount from a line of credit history Twitter experienced as a security deposit.
Even so, Twitter “again breached the lease by failing to pay out every month rent and more lease because of under the lease for the month of January 2023 in the sum of $3,427,722.14,” the fit said. Immediately after SRI 9 Market place Square took a different $266,000 from the line of credit — which is now seemingly depleted — Twitter presently owes $3.16 million in lease, according to the match.
SRI Nine Industry Sq. said in the filing that it is seeking to raise Twitter’s line of credit score to $10 million, based on language in the lease that triggers these a shift if management of Twitter adjusted (Musk bought the firm in late Oct), and claimed Twitter is refusing to do so.
The lawsuit was initially claimed by the San Francisco Chronicle.
Twitter, which dissolved its media relations staff right after Musk took over, did not reply to MarketWatch’s ask for for comment.
In December, the New York Times reported Twitter experienced stopped having to pay rent on its numerous workplaces as way to reduce costs beneath Musk. The landlord of yet another just one of Twitter’s places of work in San Francisco sued for non-payment of rent in early January.
