Elon Musk Sued By Former Twitter Executives for $128 Million

0
1


Billionaire Elon Musk is being sued by 4 former Twitter executives who allege that the multi-CEO owes them $128 million in severance on account of wrongful termination. The previous staff say they had been fired instantly after Musk accomplished his $44 billion takeover of the social media firm in October 2022.

Amongst these looking for financial compensation are former Twitter CEO Parag Agrawal, former CFO Ned Segal, former Head of Authorized, Coverage and Belief at Twitter, Vijaya Gadde, and former Twitter Normal Counsel Sean Edgett.

Associated: Twitter Is Being Sued for $500 Million By Laid-Off Workers Claiming Unpaid Severances

The lawsuit was filed on Monday within the U.S. District Courtroom for the Northern District of California, the place Twitter’s former HQ was once.

The doc alleges that Musk fired the executives “with out cause” as a result of he did not need to pay their advantages and made up a “faux trigger” to get away with it, citing that Musk wrote the staff had dedicated “gross negligence” and “willful misconduct” with out proof supporting the claims.

“After Defendant Elon Musk definitively agreed to purchase Twitter, Inc. for $44 billion, the inventory market declined, and Musk tried to again out of the deal, regardless of having no authorized or contractual justification to take action. Twitter sued Musk to implement the deal, and over months of intensive litigation, every of Musk’s baseless excuses was stripped away,” the doc states. “Below Musk’s management, Twitter has develop into a scofflaw, stiffing staff, landlords, distributors, and others. Musk would not pay his payments, believes the foundations do not apply to him, and makes use of his wealth and energy to run roughshod over anybody who disagrees with him.”

In typical Musk vogue, he cheekily responded to the allegations on X.

First, the billionaire posted a crying laughing emoji in response to a consumer who wrote: “Parag Agrawal is suing Elon Musk claiming that he did in reality get quite a bit executed that week.”

In a second response, Musk wrote “If the emoji suits” beneath a publish of Agrawal and a clown emoji.

This isn’t the primary Twitter severance lawsuit.

In July 2023, the billionaire was hit with a $500 million class motion lawsuit by former Twitter staff who claimed they weren’t paid the severance they had been promised, which was reportedly “two months of their base pay plus one week of pay for every full yr of service” upon being laid off.

Associated: Elon Musk Will get Into Twitter Combat With Ex-Worker

“There have been lots of people that did not appear to have lots of worth,” Musk mentioned final Might on the Wall Avenue Journal’s CEO Council Summit in London, relating to the mass layoffs and cuts instantly following his takeover of the corporate. “I believe there’s the chance for vital cuts at different corporations with out affecting their productiveness, in reality growing their productiveness.”



LEAVE A REPLY

Please enter your comment!
Please enter your name here