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Omid Kordestani, former Twitter executive chairman, sues X for $20 million in unpaid shares
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Kordestani alleges Elon Musk’s X reneged on its obligation to pay out company stock compensation
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Lawsuit adds to growing list of financial disputes surrounding Musk’s Twitter takeover
Omid Kordestani, former executive chairman of Twitter, has filed a lawsuit against Elon Musk’s X, alleging the company owes him over $20 million in unpaid shares. Kordestani received a significant portion of his compensation in company stock, but X allegedly refused to pay out these shares after Musk’s acquisition of Twitter.
The lawsuit claims X seeks to benefit from Kordestani’s seven years of service without paying him. This is part of a broader pattern of unpaid bills under Musk’s leadership, according to the lawsuit. Kordestani’s lawsuit follows a similar case filed by former Twitter CEO Parag Agrawal and three other executives, seeking $128 million in unpaid severance.
The mounting legal challenges and allegations of unpaid debts raise concerns about Twitter’s financial stability and ability to meet its obligations. As of now, neither Elon Musk nor X has commented on Kordestani’s lawsuit.
