Former senior executives of Twitter are taking legal action against Elon Musk and X Corp., seeking over $128 million in unpaid severance payments. The executives, which include Twitter’s former CEO, CFO, and legal counsel, claim they were unjustly fired on the same day Musk finalized his acquisition of the social media platform.
According to the lawsuit, Musk allegedly fabricated reasons for their terminations in order to avoid fulfilling their severance agreements. This is not the first time Musk has been accused of failing to pay bills and severance to former employees. Despite repeated requests for comment, representatives for Musk and X Corp. have remained silent on the matter.
The executives argue that they are entitled to one year’s salary and unvested stock awards, based on the acquisition price of Twitter. They claim they were terminated without valid cause, despite a narrow definition of cause outlined in their severance agreements.
Reportedly, Musk justified the firings by pointing to Twitter’s payment of fees to outside attorneys for their work on the acquisition. X Corp. has been facing multiple lawsuits over unpaid bills, with Musk allegedly adopting a cavalier attitude towards financial obligations.
As the legal battle unfolds, the former executives are seeking justice and restitution for what they believe to be wrongful termination and unpaid severance. Musk’s business practices and alleged disregard for financial responsibilities continue to be scrutinized as more details emerge. Stay tuned to Heartland Magazine for updates on this developing story.
