ex-twitter-board-member-sues-x-for-20-million

Omid Kordestani, a former executive chairman of Twitter—now known as X, the social media platform run by billionaire Elon Musk—has filed a $20 million lawsuit against the company. Kordestani alleges that Musk has refused to cash out more than $20 million worth of shares owed to him.

 

Kordestani’s compensation was primarily in stock, and he claims that Musk, after acquiring the company, has not paid for these shares. The lawsuit, filed in California Superior Court in San Francisco, asserts that X is benefiting from Kordestani's seven years of service without fulfilling its financial obligations to him.

 

Neither Musk nor X have yet commented on the lawsuit. 

 

Kordestani, who joined Twitter’s board in 2015, was involved in overseeing the company's sale to Musk in October 2022. 

 

This lawsuit follows a separate legal action where Parag Agrawal, former CEO of Twitter, and three other former executives—Ned Segal, Vijaya Gadde, and Sean Edgett—sued Musk for approximately $128 million in unpaid severance. The lawsuit alleges that Musk publicly vowed to withhold around $200 million in severance payments when he took over Twitter for $44 billion in 2022.