Los Angeles-based viral music video app operator Triller Group was delisted from the Nasdaq Stock Market on December 30 after failing to file required financial reports on time.
The delisting follows a determination letter from a Nasdaq Hearings Panel on December 26, which confirmed the suspension and subsequent delisting would take effect at market open on December 30.
As MBW previously reported, the decision came after Triller missed a December 24 deadline to file 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.
The filing delays triggered multiple notices from Nasdaq and a hearing before the suspension of Triller’s stock, which traded under the ticker symbol ILLR. While investors can no longer trade shares on the exchange, they may still transact through over-the-counter markets.
Triller attributed the delays to what it called “one remaining technical matter” related to consolidating accounts for a US-based operation. In a press release filed last week, Triller said its management is “highly confident that the company will regain full filing compliance within weeks.”
The company said its operations continued normally and that no deficiencies or irregularities have been identified that could materially affect its financial position. Triller added that it is optimistic for “robust revenue growth, product development, and expansion in 2026.”
Triller said it is implementing upgrades to its accounting systems with help from a consulting firm and has retained attorney Jacob S. Frenkel of Dickinson Wright to appeal the panel’s decision. On December 29, Frenkel filed an emergency application with the SEC requesting a stay of the trading suspension.
The company said it would pursue appeals through the SEC and potentially the US Court of Appeals if necessary.
The Nasdaq delisting marks the latest challenge for Triller, which was touted as a challenger to TikTok. In November 2024, Triller hired Sean Kim, former head of product at TikTok, as CEO of the Triller App and the company’s Triller Platform Co. subsidiary.
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.”
In addition to its financial woes, lawsuits have also plagued Triller. In March last year, Merlin, which represents independent labels and distributors, sued Triller 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.
In October, 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.
Separately, 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.
Last week, Triller said the company, in collaboration with its advisors and auditors, has spent over a year addressing all accounting and audit matters related to the legacy Triller Group before the merger. Prior to the AGBA merger’s closing, Triller was fully compliant with Nasdaq listing rules, the company said.
“The company looks forward to achieving key growth milestones in 2026,” Triller said.
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