AGBA Acquisition (AGBAU) Receives Legal Notice for Financial Obligation – SEC Filing Report

AGBA Acquisition (OTCMKTS:AGBAU) has recently been served with a summons and a notice of motion for summary judgment, as per a Form 8-K filed with the Securities and Exchange Commission on November 26, 2024. The company, listed as Triller Group Inc., along with its wholly-owned subsidiary, Triller Corp., and Triller Hold Co LLC, are facing legal action from YA II PN, Ltd., a Cayman Islands exempt limited partnership.

The summons and motion for judgment were filed in the Supreme Court of the State of New York County of New York, with the Plaintiff seeking payment of $35,546,302.19, in addition to default interest, pre-judgment interest, costs, legal fees, and expenses. The legal action is based on alleged defaults on various financial agreements between the parties, including a Secured Convertible Promissory Note, a Standby Equity Purchase Agreement, Guaranty Agreements, Pledge Agreements, a Registration Rights Agreement, and other related documents.

While AGBA Acquisition intends to vigorously defend itself in this legal matter, the outcome of the lawsuit remains uncertain. The company has acknowledged the legal proceedings in its recent SEC filing but has not provided any specific information about the potential impact of these legal actions on its financial condition or operations.

Investors and stakeholders are advised to monitor further developments in this legal dispute as they unfold. AGBA Acquisition will likely provide updates on the progress and any material developments regarding the case as required by SEC regulations.

This news comes following the submission of the SEC Form 8-K, highlighting the legal issues faced by AGBA Acquisition. As of now, no further details or comments have been provided by the company regarding this matter. Investors are encouraged to stay informed about any future disclosures made by AGBA Acquisition as the situation progresses.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read AGBA Acquisition’s 8K filing here.

About AGBA Acquisition

AGBA Acquisition Limited does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the healthcare, education, entertainment, and financial services sectors in China.