Triller Group received a delisting determination letter from the Nasdaq Stock Market on October 14, setting up its potential removal from the exchange as soon as today (October 23) after it failed to file required financial reports on time.
The Los Angeles-based viral music video app operator, dubbed as a TikTok rival, missed the deadline to submit its annual 10-K report for the year ended December 31, 2024, along with quarterly 10-Q reports for the periods ending March 31 and June 30, 2025.
Under Nasdaq’s listing rules, companies have to file these reports on schedule with the Securities and Exchange Commission.
Nasdaq Listing Qualifications staff notified Triller that its common stock would be suspended and delisted when trading opens today unless the company requested a hearing before the Nasdaq Hearings Panel.
Triller said it intends to request such a hearing, which would automatically stay any delisting action for 15 days from the request date, pending further review by the panel. The company’s stock trades under the ticker ILLR. Its shares closed 12% lower on Wednesday (October 22).
The company had already received an extension. On August 19, Nasdaq granted Triller additional time to file the delinquent reports by October 13. The company failed to meet that deadline.
Triller operates two business segments: a social media platform that uses AI for content related to music, fashion, sports and pop culture, and AGBA Group, a Hong Kong-based fintech unit that provides consumer finance and healthcare services to over 400,000 clients across Asia.
In the first half of 2024, AGBA reported a 55.8% YoY drop in revenues, weighed down by a steep drop in commissions, which it attributed to “the economic recession [in China] and outward migration in Hong Kong.”
The filing delays add to mounting pressures on the company. Merlin, which represents independent labels and distributors, sued Triller in March over allegedly unpaid licensing fees. The complaint claims Triller violated a 2020 licensing agreement that included a “most favored nation (MFN)” clause that requires Triller to make up the difference to Merlin if it offered higher licensing fees to another music company.
Merlin said it discovered through a separate 2022 lawsuit that Triller had paid another music company more favorable rates. The licensing group is seeking $2.55 million in unpaid fees plus interest.
On Monday (October 20), a federal judge approved Merlin’s request to dismiss part of the lawsuit against Triller Hold Co LLC, a subsidiary, while keeping the case active against Triller Group Inc., the publicly traded parent company. The dismissal was filed without prejudice, allowing Merlin to refile against that entity later.
Following the partial dismissal of Triller Hold Co, Judge Jeannette Vargas instructed the court clerk not to close the case, keeping the pressure on the publicly traded parent company.
Judge Jeannette Vargas instructed the court clerk to keep the case open. Triller had until yesterday (October 22) to file opposition to a motion for default judgment that Merlin submitted on September 10. A hearing on that motion is scheduled for November 17, delayed one week from the original date due to a scheduling conflict.
Aside from Merlin, Triller was also sued by Sony Music Entertainment in 2022 and by Universal Music Group in 2023 over unpaid licensing fees. In late 2024, a hedge fund owned by investment manager Yorkville Advisors sued Triller over an allegedly unpaid debt of $33.5 million. That debt had been taken on by AGBA, which merged with Triller in October 2024, making Triller a publicly traded company on the Nasdaq.Music Business Worldwide
