Parag Agrawal sues Twitter

 

Parag Agrawal. AP. Former Twitter CEO Parag Agrawal is suing the company along with two other former executives.  Agrawal, former CFO Ned Segal, and former general counsel Vijaya Gadde allege that Twitter failed to cover the legal expenses they incurred during investigations related to their former positions.  It is common for companies to repay executives for expenses they incur due to legal charges that relate to their official positions. The lawsuit cites "certain investigations related to the company” that were carried out by the U.S. Justice Department. It also alleges that Agrawal and Segal incurred legal expenses during an investigation carried out by the U.S. Securities and Exchanges Commission (SEC) in 2022. The agency has been investigating whether Elon Musk's failure to make timely disclosures after his initial acquisition of Twitter violated securities regulations. Musk closed a deal to acquire Twitter for $44B on Oct. 27. He swiftly dissolved Twitter's board of directors and terminated at least four of the company's most senior executives. Musk opted to terminate Agrawal, Segal, and Gadde "for cause," thereby voiding their severance payouts.