Former Twitter Chairman Omid Kordestani has filed a lawsuit against the social media company, alleging that billionaire owner Elon Musk is withholding over $20 million in shares owed to him.
Kordestani held the position of executive chairman at Twitter from 2015 to 2020, and continued to serve on the board for two more years, until Musk acquired the platform for $44 billion. According to the complaint, the majority of Kordestani’s compensation was in the form of stock, which Musk is allegedly refusing to release.
Legal representatives for Kordestani argue that X Corp., the name under which Musk rebranded the company, is attempting to benefit from Kordestani’s seven years of service to Twitter without compensating him accordingly.
This lawsuit, filed in California Superior Court in San Francisco, is just the latest in a string of legal actions brought against Musk by former Twitter executives since he assumed control. Earlier in the year, four former executives sued Musk, claiming that he had withheld over $128 million in severance payments after their departures from the company.
X Corp. declined to provide a comment on the matter.
Prior to his tenure at Twitter, Kordestani held prominent roles at Alphabet Inc.’s Google.
