Elon Musk and the SEC fail to reach a settlement in the Twitter case, will proceed to trial

Golden Ten Data reported on April 2 that Elon Musk and the U.S. Securities and Exchange Commission (SEC) have informed the judge that both parties are heading to trial to resolve allegations by the regulator accusing Musk of deceiving investors of the social media platform prior to his 2022 acquisition of Twitter. This joint case status report submitted to the Washington federal court came only two weeks after lawyers for both sides stated they were in settlement negotiations. In the new filing, the lawyers indicated that they and their clients had discussed alternative dispute resolution options. The document stated: "The parties believe that, under the current circumstances, the court’s alternative dispute resolution procedures or any other forms of alternative dispute resolution would be of no benefit to this case." Recently, Musk faced setbacks in other legal cases related to his acquisition of Twitter four years ago.