On October 9, Reuters reported that Elon Musk and his social media company X (formerly Twitter) had reached a lawsuit settlement with four former Twitter executives. Previously, former Twitter CEO Parag Agrawal and other executives accused Musk of failing to pay the promised US$128 million (approximately 900 million yuan) in severance compensation after acquiring Twitter and firing them.
Former Twitter CEO Agrawal
The terms of the settlement, which was first disclosed last week in documents filed in federal court in San Francisco, have not been made public. A federal judge on October 1 postponed the filing deadline and hearing time in the case to allow the two sides to finalize a settlement agreement.
In addition to Agrawal, the other plaintiffs in the case include Twitter’s former CFO Ned Segal, former chief legal officer Vijaya Gadde and former general counsel Sean Edgett.
"The parties have reached a settlement agreement, and the settlement requires certain conditions to be met in the short term." Lawyers for the former Twitter executives said in court documents.
In August this year, X agreed to settle another lawsuit. The lawsuit was filed by rank-and-file Twitter employees who lost their jobs in the company's massive layoffs and claimed they were owed $500 million in severance compensation.
As of press time, attorneys for X and former Twitter executives have not yet commented.