Parag Agrawal, Twitter’s ex-CEO, Vijaya Gadde, the former Chief Legal Officer, and Ned Segal, the former CFO of the tech giant, have sued in the Delaware Court of Chancery on Monday.
that the company’s obligation to cover their legal expenses remains in effect for any proceedings tied to their corporate roles.Attorneys representing the former executives attempted in January and again in March to request payment for the expenses they incurred while investigating factual allegations, researching legal theories, developing a defense, and handling other legal matters, the lawsuit indicates.
“Once again, Twitter has failed to honor its contractual obligations to pay its bills,” said Aaron Zamost, a spokesman for Ms. Gadde and Mr. Segal said. The tech titan’s corporate bylaws and contracts with the ex-executives obligate the company to cover their legal fees for proceedings related to their one-time roles at the company,The executives incurred legal expenses related to various proceedings, including a shareholder lawsuit and a congressional hearingfrom the House Committee on Oversight and Accountability in February.
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