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“X” Didn’t Pay Severance. Now It’s Facing 2,200 Cases—and Big Fees
(www.motherjones.com)
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this post was submitted on 04 Sep 2023
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Fortunately that doesn't work.
Even if Musk totally shut down Twitter, then opened an identical platform named X, the contracts Twitter held are still enforceable under the law.
There might be stipulations in the contracts where severance isn't payable if the company fails, but if I remember correctly, this severance is something mandated by state law, and not just a contractual perk.
So bottom line, Musk is liable unless his lawyers are able to worm their way into a settlement.
Sure, but this is a guy who signed a contract forcing him to purchase Twitter and thought he could just say "I don't want to anymore."