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“Twitter Execs vs. Elon Musk: Unpaid Severance Sparks Legal Battle!

A group of former Twitter executives, including former CEO Parag Agrawal, are suing Elon Musk 

Elon Musk and company X face a hefty lawsuit amounting to $128 million, filed by Twitter’s former CEO and several executives, alleging unpaid severance. The executives accuse Musk of concocting false reasons for their termination to evade compensation obligations.

Former Twitter CEO Parag Agrawal, along with CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett, are taking legal action against Musk and X for withholding severance benefits. The dispute traces back to the tumultuous period surrounding Musk’s acquisition of the company in October 2022.

Upon assuming control, Musk promptly dismissed Agrawal and the other executives. The lawsuit contends that Musk harbored animosity towards the group due to their involvement in a protracted legal battle that compelled him to finalize the acquisition against his wishes. Agrawal is seeking $57.4 million in severance, Segal $44.5 million, Gadde $20 million, and Edgett $6.8 million, totaling approximately $128 million.

Citing Musk biographer Walter Isaacson, the lawsuit alleges that Musk hastened the Twitter deal’s closure to terminate the executives under the guise of cause, just before their stock options vested. Isaacson recounts Musk’s claim that this maneuver saved him around $200 million.

The lawsuit paints Musk as someone who shirks financial obligations, flouts rules, and leverages wealth and influence to assert dominance. It asserts that Musk arbitrarily terminated the executives without justification and then fabricated reasons, enlisting employees from his various ventures to justify his actions.

X has not issued a response regarding the lawsuit. Notably, this isn’t the first instance of former Twitter employees suing over unpaid severance. Another lawsuit alleged Twitter’s owing of over $500 million in severance. Agrawal, Segal, and Gadde previously sued the company for unpaid legal fees stemming from shareholder litigations and investigations stemming from Musk’s acquisition.

#Twitter #ElonMusk #LegalBattle #Severance #CorporateDispute

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