Ex-Twitter GM Nick Caldwell has filed a lawsuit against Elon Musk and X, accusing them of reneging on millions in owed severance.
Caldwell’s lawsuit, filed in a California federal court, pulls no punches. It alleges breach of contract and a callous refusal to pay him and fellow executives their due after Musk’s colossal $44 billion Twitter takeover. The claim? A staggering $200 million in severance benefits, supposedly withheld under false pretenses of misconduct.
Similar claims have been made by former Twitter execs, including ex-CEO Parag Agrawal, seeking $128 million in unpaid severance.
Caldwell, now Peloton’s chief product officer, asserts Twitter’s acceptance of his resignation should trigger severance benefits per company policy. The suit even names SpaceX and Tesla insiders who allegedly played a part in this ruthless financial maneuvering.
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Caldwell’s attorneys state he’s owed $19.3 million in severance, plus interest and stock unit value totaling around half a million dollars.
Read the full lawsuit — Nicholas Caldwell v. Elon Musk, X Corp. et al (Case 3:24-cv-02022) — below.
