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The case is one of many accusing Musk of reneging on promises to former Twitter employees, including former Chief Executive Parag Agrawal, and vendors after buying the company for $44 billion in October 2022. Musk also runs the electric car company Tesla, and is the world’s richest person, according to Forbes magazine. The plaintiffs Courtney McMillian, who oversaw Twitter’s compensation and benefits, and Ronald Cooper, an operations manager, said Twitter instead offered fired employees just one month of pay as severance, with no benefits. The judge said the plaintiffs can try amending their complaint, but only for claims not governed by ERISA. The case is McMillian et al v. Musk et al, U.S. District Court, Northern District of California, No.
Persons: CNN — Elon Musk, Trina Thompson, Musk, Parag Agrawal, Courtney McMillian, Ronald Cooper, Twitter, Thompson, Organizations: CNN, U.S, Twitter, Forbes, Court, Northern District of Locations: San Francisco, U.S, Northern District, Northern District of California
Elon Musk just dodged a $500 million bullet
  + stars: | 2024-07-10 | by ( Ana Altchek | ) www.businessinsider.com   time to read: +3 min
Read previewElon Musk and his company X, formerly Twitter, just got out of a $500 million in severance pay lawsuit for now, according to a Tuesday court ruling. They argued the company failed to properly compensate over 6,000 laid-off employees under rules set by the Employee Retirement Income Security Act. The judge noted in her ruling that the company told employees after Musk took over that laid-off employees would get cash payouts. AdvertisementThe company told employees after Musk took over that laid-off employees would get cash payouts, according to the ruling. Several lawsuits have been filed regarding Musk's takeover of X and insufficient severance pay awarded to laid-off employees — and they're ongoing.
Persons: , Elon Musk, Courtney McMillian, Ronald Cooper, Sanford Heisler Sharp, Trina Thompson, Musk, McMillian, Cooper Organizations: Service, Northern District of, Twitter, Business, BI, Musk's Locations: Northern District, Northern District of California, London, Boulder , Colorado
Tesla logo is seen on the steering wheel of an electric vehicle at a dealership in Durango, northern Spain, October 30, 2023. She also said customers could not prove that Tesla coerced them into using its services and parts simply because they had bought their vehicles in the first place. She said customers may choose to amend their complaint, which combined five lawsuits and covered drivers who have paid for Tesla repairs and parts since March 2019. Customers said Tesla differs by requiring them to have vehicles serviced by the Austin, Texas-based company or its approved service centers, and use only Tesla parts. The case is Lambrix v Tesla Inc, U.S. District Court, Northern District of California, No.
Persons: Vincent West, Elon, Trina Thompson, Tesla, Thompson, Jonathan Stempel, Diane Craft Organizations: REUTERS, Tesla Inc, Court, Northern District of, Thomson Locations: Durango, Spain, U.S, San Francisco, California, Austin , Texas, Northern District, Northern District of California, New York
The plaintiffs in the proposed class action must "allege more than that the sham interviews were an open secret," Thompson wrote. "While Wells Fargo's history provides some context for the allegedly misleading statements, it is not sufficient to confer [intent to defraud]." Wells Fargo did not immediately respond to similar requests. The plaintiffs had claimed that San Francisco-based Wells Fargo inflated its stock price through nine public statements discussing its "diverse slates" guidelines. The case is SEB Investment Management AB et al v Wells Fargo & Co, U.S. District Court, Northern District of California, No.
Persons: Wells, Trina Thompson, Thompson, Charlie Scharf, Wells Fargo, Kirsten Donovan Organizations: U.S, New York Times, SEB Investment, Wells Fargo & Co, Court, Northern District of, Thomson Locations: San Francisco, Francisco, Manhattan, Wells, Northern District, Northern District of California
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