Former senior executives from Twitter have filed a lawsuit against Elon Musk and his company, X Corp, alleging that they were unjustly terminated. They are claiming over $128 million in unpaid severance. The lawsuit, filed in federal court in the Northern District of California, accuses Musk of fabricating reasons to dismiss them to avoid paying severance. The plaintiffs argue that their severance arrangements guaranteed them a year's salary and unvested stock awards, calculated based on Twitter's acquisition price. Musk and X Corp. are said to be facing a significant number of legal actions over unpaid bills, and Musk's reported attitude towards these lawsuits is to "let them sue."
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00:00 It's Benzinga and here's what's on the block.
00:02 Former senior executives from Twitter have filed a lawsuit against Elon Musk and his company XCOR
00:07 alleging that they were unjustly terminated. They're claiming over $12 billion in unpaid
00:11 severance and the lawsuit filed in Northcourt in the Northern District of California accuses Musk
00:15 of fabricating reasons to dismiss them to avoid paying severance. The plaintiffs argue that their
00:20 severance arrangements guaranteed them a year's salary and uninvested stock in warrants calculated
00:24 based on Twitter's acquisition price. Musk and XCOR are said to be facing a significant number
00:29 of legal actions over unpaid bills and Musk's reported attitude towards these lawsuits is
00:33 to let them sue. For all things money visit Benzinga.com