X, under the management of Elon Musk, faced a huge lawsuit due to a situation left over from when it was Twitter. Served as president from 2015 to 2020 Omid Kordestanfiled a lawsuit against the company because of the money he could not receive.
Kordestani was also on the board of directors when Elon Musk took over in 2022. Former manager’s case worth 20 million dollars. He accuses X of not paying this money.
Former executive did not receive the $20 million share payment he was entitled to
Kordestani had left a high-paying job at Google to join X (then Twitter). His starting salary was 50 thousand dollars a year. But in addition stock option was also included in the agreement. In other words, he would receive performance-based share payments in addition to his salary. The value of this is It was around 20 million 112 thousand dollars.
When Musk took over, this amount had to be paid to him. However, according to the case file, the company belongs to Kordestani. the payment to which he is entitled didn’t. It was stated that the technology giant lost the rights earned by the former manager from his 7 years of service. Moreover, it was reported that although there was an agreement, the payment was not made.
This is not the first time we have seen such a situation since Elon Musk took over the company. Many former employees have previously stated that they did not receive their benefits after being fired or leaving. We saw that many executives, including the former CEO, filed a $128 million lawsuit in March because they could not receive their payments. Now Kordestani has joined them. Time will tell how the cases will turn out.
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