Musk Agrees to Pay $128 Million Settlement to Former Twitter Executives

Musk Settles Former Twitter Executives' Suit Over Unpaid Severance Elon Musk has agreed to settle a $128 million lawsuit brought by four former top executives at Twitter, now X, over unpaid severance payments. The settlement comes after the executives, including former CEO Parag Agrawal, filed a suit last year alleging they were fired "without reason" and denied severance. Timeline of Events The lawsuit was filed in 2022, shortly after Musk took over Twitter. The executives claimed they were owed one year's salary and stock awards under a years-old severance plan. Attorneys for the plaintiffs confirmed the settlement last week, stating that certain conditions must be met in the near term. Immediate Impact and Response The settlement is seen as a significant development in the ongoing saga of Musk's takeover of Twitter. The move may help to alleviate some of the pressure on Musk, who has faced numerous lawsuits over unpaid severance for workers laid off after his acquisition. However, the terms of the settlement remain undisclosed. Background Context The lawsuit was one of several legal challenges filed by former Twitter employees over unpaid severance. Under a years-old plan, executives were entitled to receive one year's salary and stock awards upon termination. Musk's decision to deny these payments sparked controversy and led to the lawsuit. What Happens Next The settlement marks a significant turning point in the case, but its impact on Musk's business dealings remains uncertain. As the terms of the agreement are not disclosed, it is unclear how this will affect future lawsuits over unpaid severance. The outcome may also have implications for other companies facing similar challenges. *This story is developing. Information compiled from Bbc reporting.*