"Elon Musk and X have reached a settlement with a group of executives over $128 million in severance that they allege Musk had not paid since he bought what was then known as Twitter in 2022. The executives, including former Twitter CEO Parag Agrawal, former CFO Ned Segal, former Chief Legal Officer Vijaya Gadde and former General Counsel Sean Edgett, sued in 2024 alleging Musk withheld severance payments as a form of revenge after he was forced to go through with the $44 billion acquisition deal,"
"The lawsuit refers to portions of the authorized Elon Musk biography by Walter Isaacson published in 2023, in which Isaacson wrote Musk did not want the executives to collect their severance or vest the stock options because of the price he was paying and his conviction that Twitter's management had misled him. Instead, the book says Musk pushed through a faster close of the Twitter sale so that he could fire the executives for cause."
Elon Musk and X reached a settlement with a group of former Twitter executives over $128 million in alleged unpaid severance tied to the 2022 acquisition. The plaintiffs include Parag Agrawal, Ned Segal, Vijaya Gadde and Sean Edgett, who were fired within hours of Musk taking control. The executives sued in 2024, saying severance was withheld as retaliation after Musk completed the $44 billion deal. A court order dated October 1 in the US Northern District of California confirms a settlement and delays upcoming depositions, including Musk’s. The lawsuit cites assertions in Walter Isaacson’s biography about Musk pushing a faster close to terminate executives for cause. Representatives did not immediately comment. Musk and X previously settled a separate suit with other former employees in August.
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]