Breaking news
Billionaire Elon Musk is being sued by four historical Twitter executives who direct that the multi-CEO owes them $128 million in severance due to wrongful termination. The historical staff hiss they were fired straight after Musk performed his $44 billion takeover of the social media company in October 2022.
Among those searching for monetary compensation are historical Twitter CEO Parag Agrawal, historical CFO Ned Segal, historical Head of Staunch, Protection and Have faith at Twitter, Vijaya Gadde, and historical Twitter Overall Counsel Sean Edgett.
Linked: 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 Court for the Northern District of California, the attach Twitter’s historical HQ feeble to be.
The doc alleges that Musk fired the executives “without motive” because he didn’t desire to pay their benefits and made up a “fraudulent reason” to procure away with it, citing that Musk wrote the staff had committed “sorrowful negligence” and “willful misconduct” without evidence supporting the claims.
“After Defendant Elon Musk definitively agreed to aquire Twitter, Inc. for $44 billion, the inventory market declined, and Musk tried to serve out of the deal, despite having no lawful or contractual justification to develop so. Twitter sued Musk to place into effect the deal, and over months of intensive litigation, each of Musk’s baseless excuses was stripped away,” the doc states. “Under Musk’s regulate, Twitter has became a scofflaw, stiffing staff, landlords, distributors, and others. Musk does now not pay his bills, believes the guidelines don’t apply to him, and makes use of his wealth and energy to bustle roughshod over any individual who disagrees with him.”
In conventional Musk vogue, he cheekily replied to the allegations on X.
First, the billionaire posted a crying laughing emoji per a one who wrote: “Parag Agrawal is suing Elon Musk claiming that he did in level of reality procure a lot carried out that week.”
?
— Elon Musk (@elonmusk) March 4, 2024
In a 2d response, Musk wrote “If the emoji suits” beneath a put up of Agrawal and a clown emoji.
If the emoji suits … ?♂️
— Elon Musk (@elonmusk) March 5, 2024
That is now not the first Twitter severance lawsuit.
In July 2023, the billionaire was hit with a $500 million class action lawsuit by historical Twitter staff who claimed they were now not paid the severance they were promised, which was reportedly “two months of their contaminated pay plus one week of pay for every fat year of service” upon being laid off.
Linked: Elon Musk Will get Into Twitter Wrestle With Ex-Worker
“There were quite deal of oldsters that did now not seem to contain quite deal of label,” Musk said closing Could perchance perchance well also on the Wall Avenue Journal’s CEO Council Summit in London, regarding the mass layoffs and cuts straight following his takeover of the corporate. “I mediate there is the possibility for predominant cuts at other companies without affecting their productiveness, in level of reality increasing their productiveness.”
