Gate News reports that on April 2, Elon Musk informed the judge and the U.S. Securities and Exchange Commission (SEC) that their settlement negotiations had failed and that the case would proceed to trial to resolve the SEC’s allegations that Musk deceived investors in Twitter prior to his acquisition in 2022. On Wednesday local time, both parties filed a joint status report with the Washington Federal Court, just two weeks after their lawyers stated they were negotiating a settlement. In the new filing, the attorneys indicated that both sides had discussed alternative dispute resolution options, but under the current circumstances, the court’s alternative dispute resolution procedures or any other form of alternative dispute resolution would be of no benefit to this case. Additionally, Musk has recently faced setbacks in other legal cases related to his acquisition of Twitter four years ago.
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