The billionaire Elon Musk decided to withdraw his $44 billion bid to acquire Twitter on Friday. To compel the sale to go through, the dominant social media company now intends to file a lawsuit against the Tesla CEO.

Due to Twitter's failure to offer sufficient information regarding the number of phoney accounts using its network, Musk claimed he was ending the largest buyout in recent memory.

In April, Twitter and Musk agreed that each side would be required to pay a $1 billion fine if they decided to back out of the contract. Twitter might have pushed for the break-up fee after the CEO of SpaceX withdrew, but instead it is getting ready for a fight to finish the deal.