Oct. 8 (UPI) -- Tech entrepreneur Elon Musk has agreed to settle a lawsuit filed by four former Twitter executives, whom he fired after taking ownership of the social media site.
The four executives were fired in 2022 after Musk purchased Twitter, which he renamed X, but they did not receive more than $128 million in severance pay, The Verge reported on Wednesday.
A case update in the U.S. District Court for Northern California indicates former Twitter Chief Executive Officer Parag Agrawal, Chief Legal Officer Vijaya Gadde, Chief Financial Officer Ned Segal and general counsel Sean Edgett have reached an undisclosed settlement to end the legal matter that was filed in March 2024.
The four former Twitter executives accused Musk and X of firing them after they worked to hold him to a $44 billion offer to buy Twitterthat was accepted, but Musk tried to stop from happening, according to TechCrunch.
They also accused Musk and X of closing the buyout early, which deprived the executives of the opportunity to sell stock options valued at a combined $200 million.
The lawsuit filed by the former social media site executives cited a passage in author Walter Isaacson's Musk biography.
The passage says Musk said he would "hunt every single one" of the high-level Twitter executives "till the day they die," TechCrunch reported.
The terms of the reported settlement are not available, but the case will resume if the settlement terms are not met by Oct. 31, The Verge reported.
The settlement announcement comes after Musk earlier settled a class action lawsuit filed against him by about 6,000 former Twitter workers over severance pay.
The plaintiffs in that case said they either did not receive severance pay or were paid less than they were supposed to receive.
