Particle.news
Download on the App Store
12 ARTICLES
·
4h ago

Musk’s X Reaches Conditional Settlement With Four Ex-Twitter Executives in $128 Million Severance Case

A San Francisco filing describes an undisclosed, conditional agreement that must be completed by Oct. 31 or the litigation restarts.

Image
Image
Image
Image

Overview

  • Former CEO Parag Agrawal, CFO Ned Segal, CLO Vijaya Gadde and general counsel Sean Edgett filed the suit in March 2024 in federal court in San Francisco.
  • The executives sought about $128 million, citing contracts for a year of salary plus stock compensation they say was withheld after their 2022 ousters.
  • Their complaint alleged Musk closed the Twitter deal early to block roughly $200 million in stock options from vesting, citing Walter Isaacson’s biography.
  • Musk and X deny wrongdoing and say the executives were terminated for performance issues or alleged misconduct.
  • The terms were not disclosed as the judge postponed deadlines on Oct. 1 to finalize the deal, and the docket indicates proceedings will resume on Oct. 31 if conditions are not met; a separate class case by thousands of ex-workers was reported settled in August.