US billionaire called off his deal to buy social media company Twitter, according to a filing on Friday with the US Securities and Exchange Commission.

Iran PressAmerica: Elon Musk is seeking to terminate his $44 billion agreement to buy Twitter, saying that the company hasn’t provided the necessary data and information he needs to assess the prevalence of fake or spam accounts, according to a regulatory filing Friday.

The news sent the Twitter stock tumbling 5% in after-hours trading. The stock has fallen sharply since the board accepted Musk's offer to buy the company in April for $54.20 a share. On the day of the announcement, Twitter closed at $51.70 a share. On Friday, it closed at $36.81.

Meanwhile, Twitter says it will sue Elon Musk to complete the $44B mergers he just rejected and is "confident" it will prevail.


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