David Ellefson, founding bassist of Grammy winning thrash band Megadeth, has been dismissed from the band following allegations of sexual misconduct with a teenager.

Singer-guitarist Dave Mustaine issued a statement via the band's Twitter on Monday morning.

"We are informing our fans that David Ellefson is no longer playing with Megadeth and that we are officially parting ways with him," wrote Mustaine. "We do not take this decision lightly. While we do not know every detail of what occurred, with an already strained relationship, what has already been revealed now is enough to make working together impossible moving forward. We look forward to seeing our fans on the road this summer, and we cannot wait to share our brand new music with the world. It is almost complete."

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