Elon Musk, owner of the social media platform X (formerly Twitter), has agreed to settle a $128 million lawsuit brought by four former Twitter executives.
The settlement, announced on Oct. 8, presents a timeline and outlines specific details for the closure of the case. The exact terms of the settlement will remain private.
The original court documents, filed in the U.S. District Court in San Francisco in 2024, indicate that Twitter ex-CEO Parag Agrawal, former CFO Ned Segal, former chief legal officer Vijaya Gadde, and former general counsel Sean Edgett claimed Musk withheld their severance pay after purchasing Twitter in 2022.
The litigation states that Musk originally agreed to buy Twitter for $44 billion but tried to back out of the deal when the stock market declined. Twitter then sued Musk to enforce the deal, and after several months, the deal closed at its original price….