Former Twitter Executives Sue Elon Musk for Unpaid $128 Million
Four former top Twitter executives, including former CEO Parag Agrawal, have collectively sued Elon Musk for over $128 million in unpaid severance, as revealed in a lawsuit filed in federal court in San Francisco on Monday.
The lawsuit marks the latest legal challenge faced by Musk following his acquisition of the social media company for $44 billion in October 2022, subsequently renaming it X. The other plaintiffs named in the lawsuit are Ned Segal, Twitter’s former chief financial officer; Vijaya Gadde, its former chief legal officer; and Sean Edgett, its former general counsel. They allege that mere minutes after Musk assumed control of Twitter, they were terminated, falsely accused of misconduct, and coerced out of the company after initiating legal action against Musk for attempting to backtrack on his purchase offer.
The former executives contend that Musk denied them severance pay promised to them for years prior to his acquisition of Twitter. Each plaintiff claims entitlement to one year’s salary and hundreds of thousands of stock options as part of their owed compensation.
Source: Reuters