Twitter’s former CEO and other execs are suing Elon Musk and X for $128 million in unpaid severance

It’s a group of former Twitter executives, including former CEO Parag Agrawal to sue Elon Musk and X million dollars in unpaid severance pay. The allegations stem from the chaotic circumstances surrounding Musk’s takeover of the company in October 2022.

When Musk took control of the company, his Agrawal was to fire CFO Ned Segal, Chief Legal Officer Vijaya Gadde and General Counsel Sean Edgetti. Musk allegedly had a “particular grudge” for the group over their role in the months-long legal battle that forced him to go ahead with the acquisition after Musk tried to back out of the deal. According to the suit, Agrawal is entitled to $57.4 million, Segal $44.5 million, Gadde $20 million and Edgett $6.8 million, for a total of approximately $128 million.

The claim cites Musk biographer Walter Isaacson That explains Musk’s rush to close the Twitter deal the day before so he could fire executives “for cause” just before the final stock options vested. According to Isaacson, Musk bragged that the legal maneuver saved him about $200 million.

“Musk doesn’t pay his bills, believes the rules don’t apply to him, and uses his wealth and power to bully anyone who disagrees with him.” claim “Because Musk decided the plaintiffs didn’t want to pay severance benefits, he simply fired them without reason, then fabricated a reason and appointed employees from his various companies to enforce his decision.”

X did not respond to a request for comment on the lawsuit. It should be noted that this is not the first time that former Twitter employees have sued the company for not paying them severance pay. A separate lawsuit claimed that Twitter owes more to former employees in case of unpaid leave. Agraw, Segal and Gadde too the company for outstanding legal debts resulting from shareholder litigation and other investigations resulting from the Musk takeover;

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