Overview

• Former CEO Parag Agrawal, ex-CFO Ned Segal, former CLO Vijaya Gadde and former general counsel Sean Edgett brought the case seeking severance following Musk’s 2022 takeover.
• The executives’ March 2024 suit alleged they were terminated for “fake cause” to avoid severance, while X and Elon Musk denied wrongdoing and cited performance issues.
• A San Francisco federal judge on Oct. 1 postponed deadlines to allow the parties to finalize the agreement, according to the filing.
• The filing states the settlement depends on conditions being met soon, and reporting indicates the case could resume by Oct. 31 if those conditions are not satisfied.
• The deal follows an August agreement to settle a separate lawsuit by former employees who claimed about $500 million in unpaid severance after mass layoffs.