Ex-Twitter Chairman Sues Elon Musk’s X for $20 Million in Shares

Former Twitter Chairman Omid Kordestani sued the social media company, claiming that billionaire owner Elon Musk is refusing to cash out more than $20 million worth of shares he is owed.

Kordestani served as the company’s executive chairman from 2015 to 2020 and stayed on the board for two more years, until Musk bought the platform for $44 billion. He said in the complaint that the bulk of his compensation was stock, which he says Musk is refusing to pay out.

Omid Kordestani

Photographer: David Paul Morris/Bloomberg

Lawyers for the former chairman claim that X Corp., as Musk renamed the company, is seeking to “reap ...