Elon Musk Settles Lawsuit with Former Twitter Execs Over Severance
Elon Musk and Twitter's parent company, X, have reached a settlement in a legal dispute with a group of former Twitter executives. The agreement, signed in October, ends a lawsuit that began in 2024, alleging Musk withheld severance payments and stock options as 'revenge' after he was forced to complete the $44 billion acquisition deal.
The executives, including former Twitter CEO Parag Agrawal, were fired in October 2022, just hours after Musk took control of the company. This occurred one day before they would have received $200 million in severance payments and vested stock options. The lawsuit, filed in 2024, claimed that Musk did not want the executives to collect their severance or vest the stock options, as suggested in Walter Isaacson's 2023 biography of Musk.
A court order signed on October 1 in the US Northern District Court of California indicates that the two sides have reached a settlement, although the terms remain undisclosed. This settlement is separate from another agreement reached in August, which resolved a lawsuit filed by a different group of former Twitter employees over unpaid severance.
The settlement between Elon Musk and X with the group of former Twitter executives brings closure to a contentious legal battle. While the terms of the agreement remain confidential, it is clear that both parties have reached an understanding. This development may pave the way for further resolution of outstanding issues related to Musk's acquisition of Twitter.
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