Elon Musk’s effort to scuttle his deal to buy Twitter sent the social media company’s stock tumbling as investors braced for what is expected to be a messy courtroom battle.
Shares of Twitter fell 6.7% to $34.35 shortly after the open, marking their biggest decline in nearly two months. The move follows Mr. Musk’s disclosure to securities regulators on Friday that he was seeking to back out of his $44 billion deal to buy Twitter and take it private, saying the company had not provided the information, which it needs to assess the spread of fake or spam accounts.
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