{"id":83090,"date":"2024-08-10T19:30:54","date_gmt":"2024-08-10T19:30:54","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2024\/08\/10\/former-twitter-chairman-is-suing-x-for-20-million-over-pay-he-says-was-wrongfully-withheld\/"},"modified":"2024-08-10T19:30:54","modified_gmt":"2024-08-10T19:30:54","slug":"former-twitter-chairman-is-suing-x-for-20-million-over-pay-he-says-was-wrongfully-withheld","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2024\/08\/10\/former-twitter-chairman-is-suing-x-for-20-million-over-pay-he-says-was-wrongfully-withheld\/","title":{"rendered":"Former Twitter chairman is suing X for $20 million over pay he says was \u2018wrongfully withheld\u2019"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Omid Kordestani, who was Twitter\u2019s executive chairman from 2015 to 2020 and served on the board until Elon Musk acquired it in 2022, is suing X over $20 million worth of shares he says the company is refusing to pay. Kordestani filed the lawsuit on Friday with a <a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/sf.courts.ca.gov\/\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:California superior court;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">California superior court<\/a>.<\/p>\n<p>Per the lawsuit, Kordestani left a high paying job at Google to join Twitter, which offered him a \u201csignificantly lower\u201d salary of just $50,000 but sweetened the deal with stock options, performance-based restricted stock units and restricted stock units. These \u2014 amounting to $20,112,000 \u2014 were supposed to have been paid out when Musk acquired Twitter and replaced the board, but X has failed to do so, according to the lawsuit. \u201cX Corp. seeks to reap the benefits of Mr. Kordestani\u2019s seven years of service to Twitter without paying him for it, despite clear contractual language requiring X Corp. to do so,\u201d it says.<\/p>\n<p>Multiple lawsuits have been filed in the wake of Musk\u2019s Twitter acquisition from employees alleging they were not paid properly after they were laid off or fired. Former <a data-i13n=\"elm:context_link;elmt:doNotAffiliate;cpos:2;pos:1\" class=\"link \" href=\"https:\/\/www.engadget.com\/twitters-former-ceo-and-other-execs-are-suing-elon-musk-and-x-for-128-million-in-unpaid-severance-231428042.html\" data-ylk=\"slk:Twitter executives sued Musk and X;elm:context_link;elmt:doNotAffiliate;cpos:2;pos:1;itc:0;sec:content-canvas\"><\/a> earlier this year, claiming they were fired \u201cwithout reason\u201d and are owed millions of dollars in unpaid severance. The latest lawsuit says that \u201cMr. Kordestani is one of many former Twitter employees whose compensation has been wrongfully withheld by X Corp. following Elon Musk\u2019s purchase of the Company in October 2022.\u201d<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.engadget.com\/big-tech\/former-twitter-chairman-is-suing-x-for-20-million-over-pay-he-says-was-wrongfully-withheld-155407305.html?src=rss\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Omid Kordestani, who was Twitter\u2019s executive chairman from 2015 to 2020 and served on the board until Elon Musk acquired it in 2022, is suing<\/p>\n","protected":false},"author":1,"featured_media":83091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[157],"tags":[],"class_list":["post-83090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gadget"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/83090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/comments?post=83090"}],"version-history":[{"count":0,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/83090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media\/83091"}],"wp:attachment":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media?parent=83090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/categories?post=83090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/tags?post=83090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}