East Twitter CEO Parag Agarwal is back in the public eye for the first time since then fired by elon musk In October 2022, sued the company for more than $1 million in unreimbursed legal fees related to the federal investigation, according to a Admission tomorrow (April 10) in a Delaware court.
Agarwal filed the lawsuit along with former Twitter chief financial officer Ned Sehgal and the company’s former general counsel and head of legal, policy and trust Vijaya Gadde. Both Segal and Gadde were fired by Musk in October 2022, shortly after the acquisition of Twitter.
three former officers were defendants in a class action suit filed by Twitter shareholders in September against the company and its top executives.
In July and September 2022, Aggarwal and Sehgal were contacted by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) regarding investigations into Twitter and Elon Musk, who had signed an agreement to buy the company , Sue said.
At that time, SEC was Kasturi’s late disclosure probe He bought his 9.2 percent stake in Twitter in early 2022 before acquiring the company. The securities regulator was also considering Musk’s intention to back out of the acquisition, which he eventually did. The lawsuit didn’t say what the DOJ was investigating. the new York Times noted that the DOJ has assisted the Federal Trade Commission in previous investigations into Twitter and “frequently assists the SEC in criminal investigations.”
In addition, Gaddade was a defendant with Twitter. a civil case Filed in September 2020. She also incurred legal costs ranging from subpoenas to testify at two congressional hearings in December and February about Twitter’s role in online free speech.
Because the three plaintiffs’ participation in these cases was related to their prior roles at Twitter, they are entitled to reimbursement for expenses incurred during the process, totaling more than $1 million, their attorneys said in the complaint.
Twitter is facing multiple lawsuits unpaid bills, Including office rent, private jet fees, and expensive gift bags. Shortly after Musk took office, the company stopped paying many of its vendors as he led a massive cost-cutting program that included laying off 75 percent of his workforce.
Agarwal was appointed CEO of Twitter in November 2021 by the company’s cofounder and former CEO Jack Dorsey. Sehgal was Twitter’s CFO for five years until his departure in October 2022. He is also a board member of Beyond Meat. Gadde worked at Twitter for 11 years. She is a board member of several startups, including Planet, a satellite startup, and Guardant Health, a biotech company focusing on cancer treatments. LinkedIn page.