Enlarge / Then-Twitter CEO Parag Agrawal walks to a morning session during the Allen & Company Sun Valley Conference on July 7, 2022, in Sun Valley, Idaho. (credit: Getty Images | Kevin Dietsch )
Former Twitter CEO Parag Agrawal and two other ex-executives sued the company today, saying they haven’t been reimbursed for over $1 million in expenses related to federal investigations and other legal matters. The lawsuit said former executives had to respond to investigations launched by the Securities and Exchange Commission and Department of Justice, and requested “an expedited ruling requiring Defendant to comply with its obligations to advance legal fees and expenses relating to ongoing litigation and investigations.”
Twitter “has breached its obligations… by refusing to advance Plaintiffs’ Expenses,” according to the lawsuit, which was filed in the Delaware Court of Chancery and reported by The New York Times. The plaintiffs “have incurred significant expenses, including but not limited to attorneys’ fees and costs, in connection with several proceedings,” the lawsuit said.
The lawsuit against Twitter was filed by Agrawal, former Chief Legal Officer Vijaya Gadde, and former Chief Financial Officer Ned Segal, all of whom were fired by current CEO Elon Musk right after he bought Twitter in October 2022. Musk reportedly fired the executives “for cause” in a possible attempt to avoid paying golden parachute deals.
Source : https://arstechnica.com/tech-policy/2023/04/ex-twitter-ceo-who-was-fired-by-musk-sues-company-over-unpaid-legal-expenses/
