Ex-execs seek seven figure sum from messaging platform
Adding to the growing list of legal challenges faced by Twitter Inc., three of its former executives filed a lawsuit yesterday against the social media messaging company. They are asking for reimbursement of over $1 million in legal expenses they assert are connected to a shareholder lawsuit and inquiries from the authorities, including the Securities and Exchange Commission and the Justice Department.
The lawsuit, submitted on Monday in Delaware, involves Parag Agrawal, Twitter's former CEO; Vijaya Gadde, the ex-Chief Legal Officer along with Ned Segal, the former Chief Financial Officer. The trio were among the group of top executives that Elon Musk fired after completing his turbulent $44 billion acquisition of Twitter almost six months ago. The company received a class action lawsuit over the mass firings too.
In the litigation, the trio contend that Twitter still has to cover their legal expenses for any proceedings that are tied to their previous corporate roles. Lawyers for the former executives attempted to request payment for expenses in January and March, which encompassed investigating factual allegations, researching legal theories, developing a defense, and other legal matters, as detailed in the lawsuit.
This case represents yet another instance of Twitter being accused of overdue payments since Musk assumed control of the company and quickly slashed costs. Landlords, consultants, and providers have also...
Qatar’s International Media Office rejects Israeli media claims that its Gaza aid reached Hamas, calling the reports “categorically false.” Qatar’s International Media Office (IMO) has rejected re...