Ex-CEO Parag Agrawal and Two Other Top Executives Sue Twitter to Reimburse Them $1 Million
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Parag Agrawal, the former CEO of Twitter and the ex-financial officer, and the ex-chief legal officer claimed in a lawsuit against the company that Twitter owes them worth $1 million and that they need to be paid this amount as per an agreement. The reimbursement demand is also for the cost of investigations, litigation, and congressional inquiries about their jobs at the company. Twitter has responded with a poop emoji to an AFP request to provide a comment.
The filing at the court contained details of several expenses related to inquiries by the Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC). However, this does not have the details about the investigation type and if the inquiry is still ongoing. Ned Segal, the then chief financial officer, and ex-CEO Agrawal testified last year to the SEC and have engaged with the federal authorities continually as per the court documents.
The SEC is conducting an investigation to find out if Musk adhered to the security rules at the time of amassing the company shares. In fact, Vijaya Gadde, the former Twitter chief legal officer was summoned to US congressional hearing. And the hearing was about Twitter and free speech after Elon released Twitter Files last year related to content moderation for the site.
In a lawsuit by a man, who was bullied as a white supremacist, claimed that Gadde was a defendant. Segal, Gadde, and Agrawal were terminated by Elon Musk from their positions in late October as he cracked the deal of acquiring Twitter for $44 billion. The three ex-employees of Twitter said that the company has to reimburse them as it is bound by agreements.
But until now they have just acknowledged the receipt of the invoices and nothing more. Elon Musk has been criticized already for the fact that after taking over Twitter, he has made broad cuts, layoffs, and even reduced the ranks of employees. and it has done that so often that Twitter’s ability to bathe abuse and misinformation, and its stability are now easily questioned by others.
There are complaints as well against the company for keeping the bills and rent due as Musk standing true to his promise of cutting costs like crazy. According to the market trackers, it has been deduced that the advertising revenue for Twitter has also taken a downturn because of concerns over hateful content and misinformation as Musk pursues moderation efforts.
