Kordestani served as the corporate’s government chairman from 2015 to 2020 and stayed on the board for 2 extra years, till Musk purchased the platform for $44 billion. He mentioned within the grievance that the majority of his compensation was inventory, which he says Musk is refusing to pay out.
Lawyers for the previous chairman declare that X Corp., as Musk renamed the corporate, is in search of to “reap the advantages of Mr. Kordestani’s seven years of service to Twitter with out paying him for it.”
The lawsuit, filed in California Superior Court in San Francisco, is the newest in a sequence of authorized actions taken in opposition to Musk by former leaders at Twitter since he took over. In March, 4 ex-executives sued Musk for allegedly withholding greater than $128 million in severance funds after they have been ousted from the corporate.
X declined to remark.
Before his time at Twitter, Kordestani was a longtime enterprise chief at Alphabet Inc.’s Google.
© 2024 Bloomberg LP
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