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Twitter: Indian-origin former Twitter CEO Parag Agarwal, ex-legal head Vijaya Gadde and former chief financial officer Ned Sehgal have sued Twitter for unpaid legal bills of more than $1 million. In October last year, Elon Musk terminated the services of Aggarwal, Gadde and Sehgal.
All three officers accused on Twitter
According to the latest lawsuit filed in the Delaware Chancery Court in the US, the three allege that Twitter owes them more than $1 million. These expenses were incurred in several hearings to answer questions by the Department of Justice and the Securities and Exchange Commission (SEC). Aggarwal and Sehgal were named as defendants in the securities class action in September while both were still working at Twitter.
What was the reason given for the lawsuit
Gadde was named as a defendant in the securities class action in February this year after the plaintiffs in that action filed an amended class action complaint, according to the lawsuit. According to the lawsuit, “their participation in the securities class action is due to their previous roles as executives of Twitter and accordingly Agarwal, Gadde and Sehgal are entitled to expenses incurred in connection therewith.”
many expenses involved
According to court filings, the trio incurred significant expenses, including attorneys’ fees and costs, in connection with several proceedings. According to reports, these three top executives got an exit package of around $90-100 million after leaving Twitter.
How much money did the three officers get
Parag Aggarwal got the biggest payout of around $40 million, mainly because of his shares in Twitter which he would have got after being fired. Sehgal got over $25 million, while Gadde, Twitter’s then chief legal officer, got richer by over $13 million.
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