Elon Musk Settles Severance Suit with Former Twitter Execs
Elon Musk and his company, X Corp, have reached a settlement with four former Twitter executives who sued for $128 million in unpaid severance after being fired. The settlement terms are undisclosed, amid ongoing legal challenges following Musk's 2022 $44 billion Twitter acquisition.
Elon Musk and X Corp have settled a lawsuit with four former senior executives from Twitter, including ex-CEO Parag Agrawal, over unpaid severance allegedly amounting to $128 million. This settlement, which remains confidential, was reported following a San Francisco federal court filing last week.
A federal judge has postponed case deadlines to allow finalization of the agreement. In August, X resolved a similar lawsuit involving regular Twitter employees affected by mass layoffs, addressing $500 million in severance claims. These cases add to the myriad of legal hurdles Musk has encountered since purchasing Twitter for $44 billion in 2022 and renaming it X.
The former Twitter leaders assert that Musk wrongfully accused them of misconduct, terminated them, and denied their entitled severance, suggesting they were due a year's salary and significant stock options. However, Musk and X have countered these allegations, citing performance issues as the reason for their dismissal.
(With inputs from agencies.)
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