Elon Musk's social media company X Corp has reached a tentative agreement to settle a lawsuit filed by former employees of the company that was then known as Twitter, who argued they were owed $500 million in severance pay.

Both sides disclosed the deal on Wednesday in a court filing, with both asking a U.S. appeals court to delay an upcoming hearing to allow them to finalize a deal to pay the terminated workers and bring the case to a close. The 9th U.S. Circuit Court of Appeals agreed on Thursday to postpone the hearing.

The San Francisco court was scheduled to hear oral arguments on September 17.

The financial terms of the agreement were not disclosed. The settlement would resolve a proposed class action lawsuit filed by former employees Courtney McMillian and Ronald Cooper.

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