Former Twitter CEO Parag Agrawal is suing Elon Musk’s company for over $1 million in unpaid legal fees
Twitter’s former India CEO Parag Agrawal, ex-lawyer Vijaya Gadde and former CFO Ned Segal have sued Elon Musk-led Twitter for over a million dollars in unpaid legal bills.
In October of last year, Musk informed Agrawal, Gadde and Segal that their employment with the company was terminated when he took control of the microblogging platform.
According to the latest lawsuit filed in Delaware Chancery Court in the US, the trio claimed Twitter must pay them more than $1 million in legal fees they incurred while at the company to respond to inquiries from the Department of Justice, Securities and Exchange. Commission (SEC) in several hearings.
Agrawal and Segal were named as defendants in the Securities Class Action in September, while both were still working at Twitter.
Gadde was named as a defendant in the securities class action lawsuit in February of this year, when plaintiffs filed an amended class action lawsuit, according to the suit.
“Their participation in the Securities Class Action arises out of their past duties as officers of Twitter, and accordingly, Agrawal, Gadde and Segal are entitled to an increase in related expenses,” the suit says.
According to the court filing, the trio incurred significant costs, including but not limited to attorneys’ fees and costs, in connection with several lawsuits involving the plaintiffs based on their previous positions as Twitter officers, and “accordingly, they are entitled to an advance on those fees and costs.”
The three top executives reportedly had severance packages of around $90-100 million when they left Twitter.
Agrawal was slated to receive the largest payout, about $40 million, largely due “entirely to his stock that got him fired.”
Segal was set to receive more than $25 million, while Gadden, Twitter’s general counsel at the time, was set to be richer by more than $13 million.
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