Elon Musk Drubbed With $128M Severance Pay Swimsuit By way of Ex-Twitter CEO & Different Professionals

Chesnot/Getty Pictures

It’s a Hell of much more than 140 characters, however the severance and advantages lawsuit in opposition to Elon Musk and X Corp from a quartet of ex-Twitter executives sends an overly transparent message.

Surrender the cash you owe us!

That’s a message to the overall song of $128 million declare former CEO, Parag Agrawal, ex-CFO Ned Segal, former CLO Vijaya Gadde, and ex Common Suggest Sean Edgett in a grievance filed in federal courtroom in northern California these days.  

“As a result of Musk made up our minds he didn’t wish to pay Plaintiffs’ severance advantages, he merely fired them with out explanation why, then made up pretend reason and appointed workers of his quite a lot of firms to uphold his resolution,” the rather redacted six-claim submitting notes.

Learn the grievance from Twitter’s former CEO, leader monetary officer, leader authorized officer and total suggest in opposition to Elon Musk right here.

Regarding the “staggering collection of court cases from its distributors and repair suppliers throughout a spread of industries” and mounting authorized movements from “hundreds of non-executive former workers” in opposition to Musk and the social media platform previously referred to as Twitter because the erratic billionaire purchased the corporate below duress for $44 billion in 2022, the 4 executives pass directly to take a stab at Musk’s MO in relation to ex-employees and others. “That is the Musk playbook: to stay the cash he owes other folks, and power them to sue him,” they insist. “Even in defeat, Musk can impose lengthen, bother, and expense on others much less ready to have the funds for it.”

To that finish, represented by way of the San Francisco and Chicago workplaces of Sidley Austin, the as soon as tough tech lords are the use of the ceaselessly sued and ceaselessly litigious Musk’s personal phrases in opposition to him.

“Musk advised his reputable biographer, Walter Isaacson, that he would ‘hunt each and every unmarried one in all’ Twitter’s executives and administrators ‘until the day they die,’” says the 38-page grievance. “Those statements weren’t the mere rantings of a self-centered billionaire surrounded by way of enablers unwilling to confront him with the authorized penalties of his personal alternatives. Musk bragged to Isaacson in particular how he deliberate to cheat Twitter’s executives out in their severance advantages with the intention to save himself $200 million.”

The needles within the haystack here’s that Agrawal, Segal, Gadde, and Edgett all had “just right explanation why” clauses of their respective contracts that confident them of a complete payout within the tournament of a circumstance like Twitter ceasing to be “a publicly traded entity”- as befell with Twitter in October 20222. The ones clauses appear to have been lost sight of by way of Musk and his minions after they confirmed Agrawal (who on my own stood to obtain a $60 million golden handshake), Segal, Gadde, and Edgett the door.

Having spent the day expressing dismay over immigration stats and pleasure over the newest House X release, Musk had not anything to mention about Mondays’ go well with. Reps for X didn’t reply to request from Time limit for remark at the transfer by way of ex-CEO Agrawal, ex-CFO Segal, ex-legal/coverage leader Gadde, and ex-general suggest Edgett.

If and when Musk or X do have one thing to mention about these days’s grievance, this put up will likely be up to date.

Author: OpenAI