(NewsNation) — MyPillow CEO Mike Lindell says his company isn’t in danger of going out of business, even as mounting legal bills and a reduced line of credit have created a cash crunch.
Lawyers defending Lindell in a defamation lawsuit brought by election voting machine companies are seeking to withdraw from the case, saying he owes them unspecified millions of dollars in fees. Lindell confirmed he has “no money left” to pay the lawyers.
“This ‘lawfare’ attacked our company. We hung in there as long as we could paying them,” Lindell said Friday on “CUOMO.”
Lindell and his company were sued by Dominion Voting Systems and Smartmatic over his propagation of false claims that the 2020 election was stolen from former President Donald Trump, in part by hacked and rigged voting machines.
Parker Daniels Kibort, a Minnesota-based law firm, and Lewin and Lewin, a Washington-based firm, told courts in Washington and St. Paul on Thursday that Lindell and his company owe them “millions of dollars” in legal fees for their work on the defamation case.
In court filings, attorney Andrew Parker alleges MyPillow stopped paying his firm’s invoices on time this year and has only paid a portion of them in recent months.
Lindell says the financial problems began earlier this summer after speculation began when the company started auctioning off retail equipment that was no longer needed.
He claims creditors got spooked, and American Express cut his line of credit from $1 million to $100,000.
“This was a snowball effect, and the lawyers, I don’t blame them,” Lindell said.
The CEO said he’s spent “every dime I had” to pay employees.
“We’re not going under. We have support all over the country,” Lindell said of his company. “I shift my marketing where I have to go, and we have so much support in this country for what MyPillow is. This is an employee-owned company, we just get attacked all the time, and you know what? We’ll come through by the grace of God.”