Omid Kordestani, who was Twitter’s executive chairman from 2015 to 2020 and served on the board up until Elon Musk obtained it in 2022, is taking legal action against X over $20 million worth of shares he states the business is declining to pay. Kordestani submitted the claim on Friday with a California exceptional court.
Per the claim, Kordestani left a high paying task at Google to sign up with Twitter, which used him a “substantially lower” income of simply $50,000 however sweetened the handle stock alternatives, performance-based limited stock systems and limited stock systems. These– totaling up to $20,112,000– were expected to have actually been paid when Musk got Twitter and changed the board, however X has actually stopped working to do so, according to the claim. “X Corp. looks for to profit of Mr. Kordestani’s 7 years of service to Twitter without paying him for it, in spite of clear legal language needing X Corp. to do so,” it states.
Numerous suits have actually been submitted in the wake of Musk’s Twitter acquisition from workers declaring they were not paid appropriately after they were laid off or fired. Previous Twitter executives took legal action against Musk and X previously this year, declaring they were fired “without factor” and are owed countless dollars in unsettled severance. The current suit states that “Mr. Kordestani is among numerous previous Twitter workers whose payment has actually been wrongfully kept by X Corp. following Elon Musk’s purchase of the Company in October 2022.”