Former Twitter executives sue company for unpaid court fees
- April 11, 2023
- 0
Former Twitter CEO Parag Agrawal, former general counsel Vijay Gadde, and former CFO Ned Segal sued the company, claiming it owed them more than $1 million in legal
Former Twitter CEO Parag Agrawal, former general counsel Vijay Gadde, and former CFO Ned Segal sued the company, claiming it owed them more than $1 million in legal fees.
This was reported by Business Insider with reference to court documents, Ukrinform reports.
In a lawsuit filed in Delaware Chancery Court on Monday, three former executives said they had agreements with Twitter that the company would cover “significant” legal costs.
The lawsuit alleges that Twitter initially agreed to cover the costs, but later “refused to accept responsibility and pay the bills.”
Companies often have to cover the legal costs of directors in connection with their official positions.
Agrawal and Segal also incurred legal costs related to investigations from the U.S. Securities and Exchange Commission in 2022. The commission is investigating whether Elon Musk violated securities laws by failing to disclose in a timely manner when he bought a 9.2 percent stake in the company earlier last year.
As reported, Elon Musk bought Twitter for $44 billion last year. and dismissed the company’s top management.
Source: Ukrinform
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