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Former X executives have previously filed a lawsuit against Elon Musk, accusing him of withholding more than $128 million in severance payments after they were removed from their positions
Former X Chairman, Omid Kordestani has filed a lawsuit against the social media company, claiming that its owner, Elon Musk, is refusing to pay him over $20 million worth of shares he is owed.
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Kordestani, who served as the company’s executive chairman from 2015 to 2020 and remained on the board until Musk acquired the platform for $44 billion, asserts that the bulk of his compensation was in stock, which Musk is now refusing to cash out.
The lawsuit, filed in California Superior Court in San Francisco, argues that X Corp., the new name for Twitter under Musk’s ownership, is attempting to benefit from Kordestani’s seven years of service without properly compensating him.
This legal action is part of a broader pattern of lawsuits filed by former Twitter executives against Musk, including a case in March where four ex-executives alleged that Musk withheld more than $128 million in severance payments after their dismissal.
X Corp. has declined to comment on the lawsuit. Before his time at Twitter, Kordestani was a prominent business leader at Alphabet Inc.’s Google.
