Twitter shares slide after Elon Musk moves to cancel deal

Twitter shares fell to their lowest point in two months after Elon Musk moved to cancel his $44 billion purchase, keying up expectations for a contentious court battle.

In a securities filing Friday, the Tesla billionaire said he wanted out of the deal, alleging the company hadn’t provided enough information for him to assess the prevalence of fake and spam accounts on the social media platform. Twitter, for its part, is said to have retained a prominent New York law firm hold him to the agreement, which comes with a $1 billion breakup fee.