Ex-Twitter execs push for $200M severance as Elon Musk runs X into floor – Cyber Tech

“Discovery on these subjects is inevitable, and there’s no motive to additional delay,” the executives argued.

The executives have requested that the courtroom open discovery at a listening to scheduled for November 15 to forestall additional delays that they worry might hurt their severance claims.

Neither X nor a lawyer for the previous Twitter executives, David Anderson, might instantly be reached for remark.

X’s struggle to keep away from severance funds

Of their grievance, the previous Twitter executives—together with Agrawal in addition to former Chief Monetary Officer Ned Segal, former Chief Authorized Officer Vijaya Gadde, and former basic counsel Sean Edgett—alleged that Musk deliberate to disclaim their severance to make them pay for further prices that they permitted that clinched the Twitter deal.

They claimed that Musk informed his official biographer, Walter Isaacson, that he would “hunt each single considered one of” them “until the day they die,” vowing “a lifetime of revenge.” Musk supposedly even “bragged” to Isaacson about “particularly how he deliberate to cheat Twitter’s executives out of their severance advantages with the intention to save himself $200 million.”

Beneath their severance agreements, the executives might solely be denied advantages if terminated for “trigger” underneath particular circumstances, they mentioned, none of which allegedly utilized to their abrupt firings the second the merger settlement was signed.

“‘Trigger’ underneath the severance plans is proscribed to extraordinarily slim circumstances, akin to being convicted of a felony or committing ‘gross negligence’ or ‘willful misconduct,'” their grievance famous.

Musk tried to “manufacture” “ever-changing theories of trigger,” they claimed, partly by claiming that “success” charges paid to the legislation agency that defeated Musk’s go well with making an attempt to return on the deal constituted “gross negligence” or “willful misconduct.”

In keeping with Musk’s movement to dismiss, the previous executives tried to “saddle Twitter, and by extension the numerous traders who acquired it, with exorbitant authorized bills by forcing roughly $100 million in gratuitous funds to sure legislation companies within the closing hours earlier than the Twitter acquisition closed.” Musk had an enormous downside with this, the movement to dismiss mentioned, as a result of the charges had been paid regardless of his objections.