Home Insurance News Former Twitter Execs Sue Elon Musk for Over $128M in Severance

Former Twitter Execs Sue Elon Musk for Over $128M in Severance

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Former Twitter Execs Sue Elon Musk for Over $128M in Severance

4 former prime Twitter executives, together with former CEO Parag Agrawal, have sued Elon Musk for over $128 million in mixed unpaid severance, in keeping with a lawsuit filed on Monday.

The lawsuit, filed in federal court docket in San Francisco, is the most recent in a collection of authorized challenges the billionaire faces after he acquired the social media firm for $44 billion in October 2022 and later renamed it X.

The opposite plaintiffs are Ned Segal, Twitter’s former chief monetary officer; Vijaya Gadde, its former chief authorized officer; and Sean Edgett, its former common counsel.

Mere minutes after Musk took management of Twitter, the previous executives say they had been fired and that Musk falsely accused them of misconduct and compelled them out of Twitter after they sued the billionaire for trying to renege on his provide to buy the corporate.

Musk then denied the executives severance pay that they had been promised for years earlier than he acquired Twitter, in keeping with the lawsuit. The plaintiffs say they every are owed one 12 months’s wage and tons of of hundreds of inventory choices.

“That is the Musk playbook: to maintain the cash he owes different individuals, and pressure them to sue him,” the previous executives stated within the 39-page lawsuit.

X is already going through a pair of proposed class actions claiming it owes rank-and-file staff who had been laid off after Musk’s acquisition a minimum of $500 million in severance, and a 3rd lawsuit by six former senior managers making related claims. X has denied wrongdoing.

The corporate has additionally been sued beforehand for failing to pay its former public relations agency, landlords, distributors and consultants.

X didn’t reply to a Reuters request for remark.

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