The Strategist

Twitter accused of refusing to pay $500M in severance payments



07/13/2023 - 03:36



The federal court in San Francisco received the lawsuit.



MainlyTwelve
MainlyTwelve
Former Twitter employees have filed a class action lawsuit against the firm because it has refused to pay severance payouts totaling at least $500 million, CNN writes.

Its information indicates that the business is accused of failing to carry out the 2019-approved plan for employee termination benefits. It did this in defiance of federal compensation legislation.

The lawsuit was submitted in San Francisco's federal court.

At least nine lawsuits against Twitter for unpaid invoices totaling more than $14 million have been filed, according to a February article in The Wall Street Journal.

Elon Musk completed a $44 billion acquisition of Twitter on October 27. He dismissed numerous members of the executive team of the business right away, including the CEO Parag Agrawal and the CFO Ned Segal. Musk reportedly disbanded the board of directors and took sole control of the business, according to records published in the SEC database.

source: cnn.com




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