Oct 04, 2023 11:50:00

X is ordered to pay 160 million yen in legal fees due to a lawsuit brought by the former CEO.

X was ordered to pay $1.1 million (approximately 160 million yen) for not paying enough for the court costs brought by the former CEO of X (formerly Twitter).

Ex-Twitter Executives Win $1.1 Million Legal Fees From Musk's X - Bloomberg

https://www.bloomberg.com/news/articles/2023-10-03/taiwan-tech-companies-are-helping-huawei-build-a-secret-network-of-chip-plants

When X was once called Twitter, businessman Elon Musk's idea to buy Twitter surfaced. Musk

signed a contract to acquire Twitter for 5.6 trillion yen in April 2022, but canceled the acquisition in July due to the fact that ``there are more bots active on Twitter than officially announced.'' Announcement . Parag Agrawal, who was CEO of Twitter at the time, and others sued Mr. Musk, claiming that this decision was a breach of contract.

Twitter sues Elon Musk, forcing him to fulfill promise to acquire - GIGAZINE

According to a report from Bloomberg, the legal fees incurred as a result of this lawsuit have not been paid, and as of the time of writing the article, X is obligated to pay them. Mr. Agrawal, who has already resigned as CEO, filed another lawsuit in April 2023 for 'failing to fulfill his payment obligations' and asked X to pay attorney's fees, but this lawsuit is now It was approved.

After the acquisition by Mr. Mask, X paid about $600,000 (about 80 million yen) of the outstanding amount, but it seems that the remaining about $1.1 million has not yet been paid. Judge Kathleen McCormick of the Delaware State Fiscal Court found the costs 'high but not unreasonable' and ordered X to pay the remaining costs.

In addition, Judge McCormick was the person in charge of the lawsuit refusing to acquire Twitter by Mr. Musk.

Musk has not commented on the lawsuit. He has filed a separate lawsuit regarding legal fees incurred during the Twitter acquisition scandal, and here he claims that ``the $90 million (approximately 12.8 billion yen) in legal fees that Twitter was supposed to pay is too high.'' He is currently engaged in a legal battle against a law firm.

Elon Musk sues Twitter's law firm for $90 million in damages - GIGAZINE