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| Elon Musk |
Elon Musk pulled the plug on his bid to buy Twitter on Friday, accusing the firm of “misleading” assertions about the number of false accounts, a regulatory filing showed.
The $44 billion agreement Musk signed in April to purchase the San Francisco company was terminated by Musk, setting the stage for a legal battle over a billion-dollar breakup fee and other issues.
“Mr. Musk hereby exercises (the) right to terminate the Merger Agreement and abandon the transaction,” his lawyers said in a letter to Twitter, a copy of which was filed with the Securities and Exchange Commission.