(NEW YORK) — Elon Musk is terminating his $44 billion deal to buy Twitter, according to a new Securities and Exchange Commission filing.
“Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform"” and did not receive it, the filing stated.
Fake accounts have become a sticking point in Musk’s rollercoaster bid to acquire the social media platform, with the Tesla CEO previously threatening to end his agreement over concerns about the prevalence of bot and spam accounts
In the filing on Friday, Musk’s attorney claimed that Twitter “is in material breach of multiple provisions of that agreement” and appears to have made “false and misleading representations” when entering into the agreement.
Twitter stock is down about 6% in after-hours trading.
ABC News’ has reached out to Twitter for comment.
ABC News’ Joshua Hoyos contributed to this report.
This is a developing story. Please check back for updates.
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