LyricFind accuses TPG and Musixmatch of NDA breach
LyricFind has expanded its legal complaint against rival Musixmatch to include allegations that TPG and Musixmatch violated a nondisclosure agreement by sharing false information about supposed Russian sanctions violations with Spotify. The accusations stem from a failed acquisition attempt, during which TPG explored purchasing LyricFind after gaining a controlling interest in Musixmatch but abandoned negotiations. LyricFind maintains the leaked claims misrepresented its past work with VKontakte, a Russian social media platform, to damage its competitive standing. Musixmatch has dismissed the allegations as baseless and desperate.
The amended complaint further alleges that Musixmatch secured an unprecedented exclusive licensing agreement with Warner Chappell Music, preventing LyricFind from accessing the publisher’s catalog. According to the filing, this arrangement forced Spotify and iHeartRadio to renew with Musixmatch at significantly higher rates than LyricFind had proposed. The company estimates damages exceeding one billion dollars.
