Parag Agarwal demands $1 million compensation from Twitter, files lawsuit

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elon musk-parag agrawal

New Delhi: Three top executives of Twitter, who were sacked by Elon Musk last year, filed a lawsuit on Monday. He has demanded that he be compensated for the litigation, investigations, and congressional inquiries he had to face during his employment at Twitter.

The former CEO of the company, Parag Agarwal, along with the former chief legal and financial officer, has demanded compensation of $ 1 million. He is legally bound to pay them. A news agency AFP claims that when asked for a response from Twitter, the company responded to the email with an emoji containing poop.

Reimbursement of expenses
In the documents submitted for the lawsuit in the court, several expenses related to the inquiry by the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have been mentioned. But it did not include details on the nature of the investigations or whether they are still ongoing. According to court documents, Agarwal and then-Chief Financial Officer Ned Sehgal testified to the SEC last year that their ongoing interactions with government officials are still ongoing. The SEC is probing whether Elon Musk complied with securities rules by piling up Twitter shares.

Top officials were ousted after the takeover
Musk ousted then-CEO Parag Agarwal, chief legal officer Vijaya Gadde and chief financial officer Ned Segal in late October following the controversial $44 billion acquisition of Twitter. Three former executives argue that Twitter is bound to compensate them, but so far the company has only replied that their bills have been received by the company.

elon musk-parag agrawal

Post-acquisition Twitter
After the acquisition of Twitter, people’s positions in the company rapidly dropped. This raised concerns about the stability of the company. Complaints were also filed against Twitter for not paying the rent. Musk is doing cost-cutting on a large scale. According to market trackers, Twitter’s ad revenue has come down sharply. People are feeling that due to the removal of moderation from the content posted on Twitter, it has become a stronghold of fake news.

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