Former Twitter Chairman Omid Kordestani has filed a lawsuit against the social media company, alleging that billionaire owner Elon Musk is refusing to cash out shares worth over $20 million that he is entitled to receive.
Kordestani served as the executive chairman of the company from 2015 to 2020 and remained on the board for an additional two years until Musk acquired the platform for $44 billion. In his complaint, Kordestani stated that the majority of his compensation was in stock, which he claims Musk is currently withholding.
The former chairman’s legal team argues that X Corp, the name Musk has given the company, is attempting to “benefit from Mr. Kordestani’s seven years of service to Twitter without compensating him for it.”
The lawsuit, submitted to the California Superior Court in San Francisco, is part of a series of legal actions initiated by former Twitter executives against Musk since his takeover. In March, four former executives sued Musk, alleging he withheld over $128 million in severance payments following their dismissal from the company.
X, previously known as Twitter, has not commented on the matter.
Prior to his tenure at Twitter, Kordestani was a prominent business executive at Alphabet Inc.’s Google.
