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Former Twitter executives have filed a lawsuit against Elon Musk and X Corp. The ex-executives argue that they are owed $128 million in unpaid severance. The lawsuit, Agrawal et al v. Musk et al, was filed in California's Northern District. Lawyers for the former Twitter executives claim that after Musk backed himself into a deal to buy Twitter, now X Corp., he took revenge against these executives personally and tried to recover some of his expenses by "repeatedly refusing to honor other clear contractual commitments." For more information, click the link. #twitter

Elon Musk faces a $128 million lawsuit from former Execs over unpaid severance and stock awards after acquiring Twitter, rebranded as X. The controversy arises from Musk's abrupt firing of top management, alleging financial negligence and power misuse. The lawsuit accuses Musk of fabricating reasons for terminations, highlighting a pattern of rule disregard and non-payment. Read the details in the link below 🔗 #mobileappdaily #twitter #X #elonmusk #technews #trendingnews

Former Twitter Execs File Lawsuit Against Elon Musk, Seeking $128 Million in Severance. In a lawsuit filed on Monday, four former top executives of Twitter, including former CEO Parag Agrawal, have taken legal action against Elon Musk, alleging unpaid severance totaling over $128 million. The lawsuit, filed in federal court in San Francisco, marks the latest legal challenge confronting Musk following his acquisition of the social media platform for $44 billion in October 2022, subsequently rebranding it as X. The plaintiffs, which also include Ned Segal, Twitter's former chief financial officer, Vijaya G.,former chief legal officer, and Sean Edgett, former general counsel, assert that mere minutes after Musk assumed control of Twitter, they were terminated and falsely accused of misconduct. The lawsuit contends that Musk withheld promised severance payments, with each plaintiff owed one year's salary and significant stock options. The former executives, in a scathing rebuke, characterized Musk's actions as consistent with his "playbook" of withholding owed funds and coercing legal action. X faces additional legal challenges, including class action lawsuits alleging unpaid severance to laid-off employees and claims by former senior managers seeking redress for similar grievances. As Elon Musk navigates mounting legal disputes stemming from his acquisition of Twitter, the lawsuit filed by former executives highlights the contentious aftermath of the acquisition, underscoring the financial and reputational stakes involved.  #ElonMusk #Twitter #Lawsuit #Severance Image Soruce: Martina Albertazzi/Bloomberg/Getty Images/CNN

🚨 Elon Musk Wins Dismissal of $500 Million Severance Lawsuit by Ex-Twitter Employees 🚨 Elon Musk has successfully defended himself against a $500 million severance lawsuit brought by former Twitter employees following his acquisition of the platform. U.S. District Judge Trina Thompson ruled that the federal Employee Retirement Income Security Act (ERISA) did not cover the plaintiffs' claims, marking a significant legal victory for Musk. Key Points: Background: Former employees alleged Musk didn't honor severance payments totaling $500 million post-acquisition. Judge's Ruling: The dismissal challenges ERISA's applicability in severance disputes lacking comprehensive benefit plans. Implications: This ruling may influence future tech industry severance disputes and legal strategies. 🔍 Learn more about this legal development: https://lnkd.in/eg3V-Bsg #ElonMusk #SeveranceLawsuit #ERISA #LegalNews #EmployeeBenefits #BusinessNews

🚨 Elon Musk Wins Dismissal of $500 Million Severance Lawsuit by Ex-Twitter Employees 🚨 In a significant legal victory, Elon Musk has successfully defended against a $500 million severance lawsuit filed by former Twitter employees following his acquisition of the platform, now known as X. U.S. District Judge Trina Thompson in San Francisco dismissed the case, ruling that the federal Employee Retirement Income Security Act (ERISA) did not cover the plaintiffs' claims. Background of the Lawsuit Former Twitter employees alleged Musk failed to honor severance payments totaling $500 million post-acquisition. Despite a severance plan in place, they claimed only one month's pay was offered, contrary to the 2019 agreement. Judge Trina Thompson's Ruling Judge Thompson dismissed the lawsuit, stating Twitter's severance plan did not meet ERISA's criteria for an "ongoing administrative scheme." This decision challenges the scope of ERISA in severance disputes lacking comprehensive benefit plans. Implications and Key Takeaways: Legal Precedents: The ruling may influence future tech industry severance disputes, emphasizing the need for clear, compliant severance plans. Musk's Strategy: Elon Musk's legal team effectively argued against ERISA's applicability, a win amidst ongoing legal challenges post-Twitter acquisition. Options for Plaintiffs: Former employees may explore alternative legal avenues, potentially refiling under state laws or other federal regulations. Conclusion Elon Musk's legal victory in the severance lawsuit sets a precedent in understanding ERISA's limitations and navigating complex employee benefits law. Stay informed on this pivotal case and its implications! 🔍 Read more about the dismissal and its impact: https://lnkd.in/eaApd-5S #ElonMusk #SeveranceLawsuit #ERISA #LegalNews #EmployeeBenefits

Er what’s going on???   A question many a journalist or commentator has asked in recent days…   I’m talking about Elon Musk and Twitter or should I say X?   No more the tweets or blue bird – all to be replaced by just X.   I mean talk about cutting things down to size. Or even abbreviations – this one really takes the biscuit!!   Some may think Musk should have just gone for the ‘er’ and left the twitt behind – or the other way around!! Why? Why? Why? Who knows how Elon Musk's mind works or whether we will ever really get to the bottom of his decision. One thing is certain though - the man has received lots of publicity and media coverage. Agreed, it might sound a little drastic, but people really do the most crazy things to get noticed!!   The #inspiration for this post comes courtesy of this BBC article which I found rather amusing…   Twitter's rebranding of its San Francisco headquarters has been left hanging after …an attempt to remove the outgoing company name from the offices on Monday.   Five letters had been taken down from the office's large vertical sign before work was interrupted.   It now simply reads "er", mirroring the reaction of some commentators to the firm's abrupt corporate makeover!!!   Read the full article here.   https://lnkd.in/eQG6Mr-b Er...do let me know what you think, won't you? #business #womenleaders

The X files: what’s going on behind Twitter’s rebranding? Billionaire Elon Musk took a risky and unexpected move by transforming one of the world's most known social networks, Twitter, into an inventive "X." They even replaced the logo: everyone's cherished blue birdie has vanished, along with a whole decade. The decision to rename Twitter "X" raises the issue of the link between strategy and pride. Many individuals regard Musk's move as an egoistic choice that has nothing to do with an effective company strategy. Musk's choice to rename Twitter was undoubtedly groundbreaking. In facts, he abandoned the brand's history. Thats’s why aa lot of users claim that Musk should leave the chair of a company’s owner. «To twit something» has become a popular and used phrase, familiar even to those who do not have an account. So what do we gonna say next — «to x something?» However, Musk has a darker episode of his career path not only because of the choice to rebrand Twitter. Whatsoever, the infamous and notorious Securities and Exchange Commission (SEC) of the United States requires Musk to testify regarding purchasing Twitter shares before to purchasing the firm. According to Reuters, the regulator filed a comparable application with the court on October 5. Musk received an order for presence in San Francisco Superior Court in May 2023 and consented - the meeting was planned for September 15, but Musk "made several false objections" and did not present two days before. Furthermore, Musk declined to provide evidence in Texas this autumn. Among other complaints of his were claims that the SEC was allegedly involved in Musk's persecution. #twitter #x #rebranding #web3 #sec #musk #fraud

Elon Musk’s Twitter Takeover: A Legal Victory In Severance Dispute In a recent court decision, Elon Musk and Twitter (now X) have won a significant legal battle involving a $500 million severance claim from former employees. This ruling marks a turning point in the ongoing legal challenges following Musk’s $44 billion acquisition of the social media platform in October 2022. For More Information Please Visit at: https://bit.ly/4cCvCom #arihantwebtech #twitter #ElonMusk #CEO #technews #technology #arihantwebtechnews

#Severancepay clauses are a mainstay of executive contracts. #Employers want to insure that former employees don’t disparage them, violate #nondisclosure or #confidentiality agreements or solicit clients or colleagues. On the management side, #ceaseanddesist letters are step one in addressing violations by former staffers. However, failure to abide by contractual agreements to pay severance forms the basis for litigation against Elon Musk. Discharges of a sizable portion of #Twitter’s workforce, in violation of the #WarnAct, demonstrated disdain for the rule of law. Now, in addition, he faces litigation brought by former senior executives for #breachofcontract. What message does this send to considerably smaller businesses in terms of their own contractual obligations? Given the uncertainty about the viability of #noncompeteagreements, will they feel emboldened to violate bargained for terms? While Twitter and Musk are inherently newsworthy, we grapple with these issues on a daily basis. #employmentlaw. #severancepay. #employmentagreement. #noncompete Jeffrey W. Berkman. Kyle Lawrence. Akiva Shapiro. James Black

Elon Musk’s X Agrees To Settle Twitter Mass Layoff Lawsuit, What It Means For Dogecoin? Elon Musk’s X Corp agrees to a settlement of a lawsuit by former Twitter employees claiming that they didn’t receive severance pay during a mass layoff by Musk after he took over the social media firm last year. The settlement negotiations are set for early December as Musk faces many lawsuits amid plans to transform the platform into everything app. X Corp has agreed to try to settle claims of almost 2000 former employees laid off during the mass layoff last year, reported Bloomberg on September 14. Former employees claim that they were not paid severance pay and violated several labor rules and regulations. As the company has demanded, former employees have resorted to fighting their claims in arbitration. However, Liss-Riordan complained that Twitter didn’t show any interest for nearly a year. Elon Musk’s X Corp has agreed to comply with the court order to settle, as per sources familiar with the matter. The private negotiations are planned to commence on December 1 and 2. Shannon Liss-Riordan and others are representing nearly 2,000 former Twitter employees, in individual arbitrations as well as more than a dozen class action lawsuits in court. Read more: https://lnkd.in/d9mvdkGD People Over Profits