Former Twitter execs sue Musk and X for more than $128 million in severance

Source: CNBC

Published Mon, Mar 4 2024 4:07 PM EST Updated 57 Min Ago


Former Twitter executives including CEO Parag Agrawal, Chief Financial Officer Ned Segal, head of legal Vijaya Gadde and General Counsel Sean Edgett filed a new lawsuit against Elon Musk and X Corp. in federal court arguing that they are owed $128 million in unpaid severance.

In their complaint, lawyers for the ex-Twitter executives say that after Musk backed himself into a deal to buy Twitter, now X Corp., for $44 billion, he took revenge against these executives personally, and tried to recover some of his expenses by “repeatedly refusing to honor other clear contractual commitments.”

Musk and X Corp. have been “stiffing employees, landlords, vendors, and others” since they took over Twitter, the lawyers allege, an allusion to more than 25 vendor nonpayment lawsuits filed against the social media business by companies including software and service providers and a landlord.

“Musk doesn’t pay his bills, believes the rules don’t apply to him, and uses his wealth and power to run roughshod over anyone who disagrees with him,” the complaint says. The complaint also alludes to comments Musk made to his official biographer, Walter Isaacson, that “he would ‘hunt every single one of’ Twitter’s executives and directors ‘till the day they die.’”

Read more: https://www.cnbc.com/2024/03/04/former-twitter-execs-sue-elon-musk-and-x-for-128-million-in-severance.html