The Justice Department recently reviewed Twitter, a lawsuit claims
The purpose of the survey was unclear, but several former executives said they racked up more than $1 million in spending on it face and other legal issues.< /p>
A lawsuit filed Monday by several former Twitter executives said they personally spent more than $1 million on legal fees related to shareholder lawsuits and several government investigations, including a Department of Justice investigation.
The nature of the Department of Justice's investigation Justice, and whether active, was unclear. The lawsuit, filed in Delaware Chancery Court, did not provide further details.
Last year, the Securities and Exchange Commission began investigating Elon Musk's Twitter stock purchases and whether they were properly disclosed. Twitter is also under investigation by the Federal Trade Commission, which is looking into the company's privacy practices.
The Department of Justice helped the F.T.C. with past surveys on Twitter. In 2022, the agency joined the F.T.C. fined Twitter $150 million for misleading users about how it handled their personal data. The Department of Justice also often assists the S.E.C. in criminal investigations.
Mr. Musk did not respond to a request for comment. A Justice Department spokesperson did not respond to a request for comment.
Twitter is facing shareholder lawsuits related to the acquisition of Mr. Musk, including one who named its former leaders. And one of those executives has been subpoenaed to appear before Congress, in a hearing about Twitter's content moderation policies.
Parag Agrawal, the former chief executive of Twitter; Ned Segal, its former chief financial officer; and Vijaya Gadde, who was its legal and policy manager.
Mr. Musk, who bought Twitter in late October, fired executives the day he took over the company. They notified Twitter of the expenses more than two months ago, but the company has not paid, according to the lawsuit.
Since buying Twitter for $44 billion dollars, Mr. Musk has aggressively cut costs, in part to pay off the debt he incurred to fund the acquisition. The loans left Twitter with about $1.5 billion in debt repayments a year, while the company's ad revenue fell about 50%, the billionaire told a banking conference last month. .
The purpose of the survey was unclear, but several former executives said they racked up more than $1 million in spending on it face and other legal issues.< /p>
A lawsuit filed Monday by several former Twitter executives said they personally spent more than $1 million on legal fees related to shareholder lawsuits and several government investigations, including a Department of Justice investigation.
The nature of the Department of Justice's investigation Justice, and whether active, was unclear. The lawsuit, filed in Delaware Chancery Court, did not provide further details.
Last year, the Securities and Exchange Commission began investigating Elon Musk's Twitter stock purchases and whether they were properly disclosed. Twitter is also under investigation by the Federal Trade Commission, which is looking into the company's privacy practices.
The Department of Justice helped the F.T.C. with past surveys on Twitter. In 2022, the agency joined the F.T.C. fined Twitter $150 million for misleading users about how it handled their personal data. The Department of Justice also often assists the S.E.C. in criminal investigations.
Mr. Musk did not respond to a request for comment. A Justice Department spokesperson did not respond to a request for comment.
Twitter is facing shareholder lawsuits related to the acquisition of Mr. Musk, including one who named its former leaders. And one of those executives has been subpoenaed to appear before Congress, in a hearing about Twitter's content moderation policies.
Parag Agrawal, the former chief executive of Twitter; Ned Segal, its former chief financial officer; and Vijaya Gadde, who was its legal and policy manager.
Mr. Musk, who bought Twitter in late October, fired executives the day he took over the company. They notified Twitter of the expenses more than two months ago, but the company has not paid, according to the lawsuit.
Since buying Twitter for $44 billion dollars, Mr. Musk has aggressively cut costs, in part to pay off the debt he incurred to fund the acquisition. The loans left Twitter with about $1.5 billion in debt repayments a year, while the company's ad revenue fell about 50%, the billionaire told a banking conference last month. .
What's Your Reaction?
![Three of ID's top PR executives quit ad firm Powerhouse [EXCLUSIVE]](https://variety.com/wp-content/uploads/2023/02/ID-PR-Logo.jpg?#){kind=logo}
