Omid Kordestani, the former chairman of Twitter, has filed a lawsuit against the social media giant, alleging that Elon Musk, the billionaire owner, is refusing to allow him to cash out stock valued at over $20 million.
Kordestani held the position of executive chairman from 2015 until 2020 and remained on the board for an additional two years until Musk acquired the company for $44 billion. In his legal filing, Kordestani asserts that the majority of his earnings were in stock form, which Musk is allegedly withholding.
The attorneys representing Kordestani allege that X Corp., the new name Musk has given to the company, intends to benefit from Kordestani’s seven years of service without fulfilling their financial obligations to him.
The lawsuit, submitted to the California Superior Court in San Francisco, adds to a growing list of legal complaints directed at Musk by former Twitter executives following his acquisition of the platform. In March, four former executives initiated their own lawsuit against Musk, claiming he was unjustly withholding over $128 million in severance payments after they were dismissed from their positions.
X has opted not to comment on this matter.
Prior to his tenure at Twitter, Kordestani was a prominent executive at Alphabet Inc.’s Google.
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