Elon Musk has agreed to settle a lawsuit worth $128 million involving four former Twitter executives. This legal action stems from his decision to fire them shortly after acquiring the company in 2022.
Details of the Lawsuit
Among those dismissed were CEO Parag Agrawal, CFO Ned Segal, and senior attorneys Sean Edgett and Vijaya Gadde. The executives did not receive severance payments, which they allege was a direct result of trying to hold Musk accountable for his $44 billion commitment to purchase Twitter.
Contentions Raised
The lawsuit references quotes from Walter Isaacson’s biography of Musk. In it, Musk reportedly stated he would “hunt every single one” of Twitter’s C-suite executives “till the day they die.” This statement underscores the contentious atmosphere surrounding the acquisitions and subsequent layoffs.
Settlement Details Pending
While a court filing confirms the settlement agreement, specific terms have yet to be disclosed. The resolution of this lawsuit comes amid other legal challenges Musk faces regarding severance payments at Twitter.
Broader Implications
The conflict is not isolated to these four executives. Musk has also settled a class action lawsuit concerning around 6,000 former Twitter employees. Many of these staff members expressed dissatisfaction with their severance packages, reporting incomplete payments or none at all.
- Settlement amount: $128 million
- Number of executives involved: 4
- Establishment year of Twitter: 2006
- Musk’s acquisition of Twitter: 2022
- Class action employees affected: 6,000
This case highlights ongoing issues surrounding employee treatment during corporate transitions. As further information about the settlement terms is released, stakeholders will be keenly observing Musk’s next moves.
