After taking over, mass firing and sacking former Chief Executive Officer (CEO) and Chief Policy Officer, Twitter is once again in headlines.
This time, the Elon Musk owned Twitter is likely to face a legal law suit of $1 million. Notably, after the take over, Mr. Elon Musk, the new CEO of Twitter sacked Mr. Parag Agarwal as the CEO. Mr. Parag Agarwa, who joined Twitter as an engineer in 2011, was sacked after 10 years of his service to the micro blogging site. Joined as an engineer, Parag Agarwal was announced as the Twitter CEO in November 2021. However, after the biggest takeover of the world, Elon Musk, the new owner of Twitter fired Parag Agarwal along with top executive officer Vijaya Gadde.
Now, after months of being fired, Parag Agarwal and Vijaya Gadde filed a suit against Elon Musk, claiming pending legal dues.
The former Twitter officers has sought that they be reimbursed for costs of litigation, investigations and congressional inquiries related to their former jobs, according to an AFP report. They have claimed they are owed over $1 million and that Twitter is legally bound to pay them.
Meanwhile, earlier in the last week, Twitter faced a legal lawsuit for sacking contract employees without any prior notice. In addition, the platform is facing another legal battle for hate speech cases in Germany. A German Court found Twtter of violating German laws, and fined 50 millions euros for each pending case. Notably, there are 600 such pending cases of hate speech, which would be more than the net worth of Twitter.
The net worth of Twitter is only $20 billion, way less than the taking over deal which was of $44 billion dollar. In 2023, the net worth of Twitter fell by 28%.
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