2024-07-11 00:00:05
Business
Law

Elon Musk Prevails in $500 Million Severance Lawsuit by Dismissal

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Elon Musk has emerged victorious as a US court dismissed a lawsuit seeking over $500 million in severance payments to thousands of Twitter employees he laid off following the acquisition of the social media platform. The federal Employee Retirement Income Security Act (ERISA) was deemed inapplicable to the claims, leading to the jurisdiction being questioned.

This legal triumph adds to a series of lawsuits targeting Musk for alleged breaches of promises made to former Twitter employees and suppliers after acquiring the company for $44 billion in October 2022.

The press radar on this topic:

Al Jazeera – Breaking News, World News and Video from Al Jazeera
10. Juli 2024 um 19:19

Elon Musk beats $500m severance lawsuit by fired Twitter workers

Economy
Finance
Politics
Technology
Elon Musk has won the dismissal of a lawsuit claiming he refused to pay at least $500 million in severance to thousands of Twitter employees he fired after buying the social media company. The US judge ruled that the federal law governing benefit plans did not cover the former employees' claims, and therefore she lacked jurisdiction. The case is one of many accusing Musk of reneging on promises to former Twitter employees and vendors after buying the company for $44 billion in October 2022.
Yahoo Finance
10. Juli 2024 um 15:40

Elon Musk beats $500 million severance lawsuit by fired Twitter workers

Economy
Finance
Technology
Politics
Elon Musk has won the dismissal of a lawsuit claiming he refused to pay at least $500 million in severance to thousands of Twitter employees he fired after buying the social media company. The U.S. District Judge ruled that the federal Employee Retirement Income Security Act (ERISA) governing benefit plans did not cover the former employees' claims, and therefore she lacked jurisdiction. The case is one of many accusing Musk of reneging on promises to former Twitter employees and vendors after buying the company for $44 billion in October 2022.
The Guardian
10. Juli 2024 um 17:26

Elon Musk beats $500m severance suit over mass Twitter layoffs

Economy
Technology
Finance
Politics
A US court dismissed a lawsuit claiming Elon Musk refused to pay at least $500 million in severance to thousands of Twitter employees he fired in mass layoffs after buying the social media company. The judge ruled that the federal Employee Retirement Income Security Act (Erisa) did not cover the former employees' claims, and therefore she lacked jurisdiction. The decision marks a legal victory for Musk, who still faces numerous lawsuits over his business practices at companies including X, Tesla and SpaceX.
TechCrunch
10. Juli 2024 um 19:48

Elon Musk does not owe ex-Twitter staffers $500 million in severance, court rules

Finance
Economy
Technology
Politics
Elon Musk's X Corp. does not owe $500 million in severance to former Twitter employees, a federal judge ruled. The lawsuit alleged that X Corp. paid fired Twitter employees less severance than they were contractually promised, but the judge dismissed the class action lawsuit, stating that the ERISA protections did not apply because Musk's company notified employees that they would only receive cash payouts after the takeover. Musk has faced several lawsuits over the mass firings of over 6,000 Twitter employees, including a $128 million severance lawsuit from former CEO Parag Agrawal and other executives.
CW

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