Elon Musk and X (formerly Twitter) don settle case wit some former top executives over severance wey dem claim say Musk no pay dem after he buy Twitter for 2022. Dem dey talk say di amount be around $128 million.
Di executives wey dey inside di case include former Twitter CEO Parag Agrawal, former CFO Ned Segal, former Chief Legal Officer Vijaya Gadde, and former General Counsel Sean Edgett. Dem sue Musk for 2024, dey accuse am say he hold back dia severance payments as “revenge” because he no want buy Twitter for $44 billion. Dem fire all of dem hours after Musk take over Twitter for October 2022.
Court document show say dem settle di case, but e no talk di terms of di settlement. Di court don delay some depositions, including Musk own, so dat di parties fit meet di conditions wey dey inside di settlement.
Di lawsuit dey refer to Walter Isaacson biography of Elon Musk, wey talk say Musk no want make di executives collect dia severance or stock options because he feel say Twitter management mislead am. Di book talk say Musk push make di Twitter sale close fast so dat he go fit fire di executives “for cause.” Di lawsuit claim say di cause wey dem give for di executives termination letters no get proof.
Before dis one, Musk and X settle another lawsuit for August wit about 6,000 former Twitter employees wey claim say dem dey owe dem $500 million for severance pay. After Musk buy Twitter, he fire plenty workers. Di former executives claim say Musk dey vex say dem force am to buy Twitter and he accuse dem of wrongdoing so dat he go fit push dem out.
Key Takeaways:
- Elon Musk settle $128 million severance dispute wit former Twitter executives.
- Di executives claim say Musk fire dem without reason and refuse to pay dem dia severance.
- Dis settlement follow another one wit 6,000 former Twitter employees over unpaid severance.
Wetin Dis Mean For You?
Dis settlement show how serious severance disputes fit be, especially when company dey change hand. E also dey highlight di importance of clear agreements and fair treatment of employees during mergers and acquisitions.