Musk accused Twitter of making misleading representations about the prevalence of fake accounts on its platform.
American billionaire Elon Musk on Friday, 8 July, terminated his $44 billion deal to buy Twitter, accusing the tech company of making "false and misleading representations" about the prevalence of fake accounts on its platform.
"Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr Musk relied when entering into the Merger Agreement," Musk's lawyers said in a regulatory filing.
Musk and his financial advisors have been requesting critical information from Twitter as far back as 9 May and repeatedly since then, the filing stated.
Responding to the withdrawal, Twitter's Chairperson Bret Taylo said the board will pursue legal action to enforce the merger agreement, and that they were confident of prevailing.
