Elon Musk and SEC Headed for Trial Over Twitter Acquisition Dispute

Elon Musk and the U.S. Securities and Exchange Commission (SEC) have informed a judge that they are moving towards a trial to address allegations that Musk misled investors prior to his 2022 acquisition of Twitter. According to ChainCatcher, this development comes as a joint case progress report was submitted to a federal court in Washington on Wednesday, just two weeks after lawyers from both sides indicated they were negotiating a settlement. The new document reveals that the legal teams and their clients have discussed alternative dispute resolution methods. However, it states, "Both parties believe that, under the current circumstances, the court's alternative dispute resolution procedures or any other form of alternative dispute resolution would not be beneficial for this case." Musk has recently faced setbacks in other legal matters related to his acquisition of Twitter four years ago.