Overview

• A San Francisco federal court filing last week confirmed a settlement between Elon Musk's X Corp and four former Twitter executives, with a judge on Oct. 1 delaying deadlines and a hearing to facilitate finalization.
• The plaintiffs are former CEO Parag Agrawal, ex-CFO Ned Segal, former chief legal officer Vijaya Gadde, and ex-general counsel Sean Edgett, who sued in March 2024 over unpaid severance and benefits.
• Financial terms were not disclosed, and the case is set to resume if the settlement conditions are not met by Oct. 31, according to reports citing the court docket.
• The executives alleged they were fired for fabricated cause and that Musk accelerated the deal closing to block stock and options worth about $200 million; Musk and X have denied wrongdoing and cited performance issues.
• The agreement follows X's separate tentative resolution in August of a $500 million severance class action involving roughly 6,000 laid-off employees.