Elon Musk's X Corp has settled a lawsuit with four former top Twitter executives who claimed they were owed $128 million in severance pay after Musk acquired the company and promptly fired them, Reuters reports. The group includes former CEO Parag Agrawal, CFO Ned Segal, legal chief Vijaya Gadde, and general counsel Sean Edgett.
Details of the settlement, revealed in a court filing last week in San Francisco, remain confidential. A federal judge has postponed further proceedings to allow the agreement to be finalized. Neither X Corp nor the attorneys for the former executives have commented on the development.
The plaintiffs argued they were dismissed on questionable grounds after Musk took over Twitter—now X—in 2022 for $44 billion. They say Musk accused them of misconduct and forced them out after they sued in an attempt to hold him to his agreement to purchase the company, which he'd tried to go back on. According to their lawsuit, the executives are owed a year's salary each, along with substantial stock options, which they say were promised long before the ownership change. Musk and X have consistently denied any wrongdoing, asserting that the executives were let go due to performance issues.
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In August, X Corp agreed to settle another severance pay lawsuit, this one from former Twitter employees who argued they were owed $500 million after Musk's mass layoffs, Fox Business reports.
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