X - Elon Musk's X Corp. Wins $500M Severance Lawsuit: Judge Rules Laid-Off Twitter Employees' Claims Not Covered Under ERISA | Benzinga
Elon Musk‘s X Corp., formerly known as Twitter, and the billionaire himself have successfully defended a lawsuit seeking $500 million in severance pay for thousands of employees laid off after the acquisition of social media company in 2022.
What Happened: A lawsuit was filed against X Corp. and Musk, alleging that they owed over $500 million in severance pay to approximately 6,000 laid-off employees. This was based on the federal Employee Retirement Income Security Act, which sets rules for benefit plans, reported Bloomberg.
However, U.S. District Judge Trina Thompson in San Francisco ruled on Tuesday that the employees’ ...