A federal judge dismissed claims made by former Twitter employees that Elon Musk violated the company's severance plan under a federal employee benefit law after his takeover.
Billionaire Elon Musk won the dismissal of a lawsuit brought by former employees of Twitter who were seeking $500 million in severance payments that Musk allegedly declined to pay following his acquisition of the social media company now known as X. U.S.
The judge said ERISA wasn't applicable to Twitter's post-buyout plan because it didn't feature an "ongoing administrative scheme" in which the company would review claims on a case-by-case basis, or offer benefits like continued health insurance or out-placement services. "There were only cash payments promised," Thompson wrote.
Agrawal filed his suit along with several other former Twitter executives, including CFO Ned Segal, chief legal officer Vijaya Gadde and general counsel Sean Edgett. The group of ex-Twitter executives are seeking $128 million in severance they allege Musk refused to pay after firing them for cause — a move they say was intended to deny them severance that they otherwise would have been contractually entitled to.
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