Former top executives of Twitter, including ex-CEO Parag Agrawal, have taken legal action against Elon Musk, the CEO of Tesla, seeking over $128 million in unpaid severance. The lawsuit, filed in a San Francisco court, alleges that Musk unjustly terminated them and disregarded financial responsibilities.
The plaintiffs assert that under Musk’s leadership, Twitter, now renamed X, has neglected financial obligations, including payments to employees, landlords, and vendors. They claim that Musk has exhibited a cavalier attitude towards rules and obligations, using his wealth and power to bypass dissent.
Apart from Agrawal, the lawsuit includes former CFO Ned Segal, ex-chief legal officer Vijaya Gadde, and former General Counsel Sean Edgett. They state that they are owed one year’s salary and stock options following their dismissal by Musk in late October 2022, after he acquired Twitter for $44 billion.
Musk’s purchase of Twitter followed a contentious dispute with top executives, prompting Twitter to take legal action to ensure Musk honoured the acquisition terms. The former executives allege that Musk fabricated instances of gross negligence to avoid paying severance, particularly referencing legal fees related to the acquisition.
X, the rebranded Twitter, is already facing three other lawsuits from former workers seeking significant severance packages. Class action suits have been filed, claiming that rank-and-file workers are owed at least $500 million in severance payments.
The lawsuit against Musk by former Twitter executives sheds light on the legal turmoil surrounding Musk’s takeover of the social media platform. As the legal proceedings unfold, the outcome will have significant implications for both Musk and X (formerly Twitter), especially regarding the allegations of unpaid severance and disregard for financial responsibilities.
Ten years of acting, several brushes with reality-show finales, and not one trophy to show…
Not Your Type, the animation-led duo known for turning everyday pop-culture moments into sharp, irreverent…
MUMBAI / LONDON / MILAN — 22-year-old designer and Co-founder Ria Mehta is redefining what…
A Woman Led Food Venture Toastid is built around Mehek's love for food, but also…
Marking a new chapter in her acting journey, Sakshi Singh takes on the female lead…
Meta has spent the last couple of years handing out AI tools for free across…
Leave a Comment