Elon Musk and the SEC fail to settle the Twitter lawsuit, and both parties will proceed to trial.

Jinse Finance reported on April 2 that Elon Musk and the U.S. Securities and Exchange Commission (SEC) informed the judge that both sides are moving toward trial to resolve the regulator’s allegations that Musk deceived investors of the social media platform before his 2022 acquisition of Twitter. As a joint case status report filed with the U.S. Federal Court in Washington on Wednesday local time was released, it has been only two weeks since the parties’ lawyers stated they were negotiating a settlement. In new filings, the lawyers said they and their client have discussed alternative dispute resolution options. The filing states: “The parties believe that, under the current circumstances, the court’s alternative dispute resolution process or any other form of alternative dispute resolution would be of no benefit to this case.” Musk has recently encountered setbacks in other legal cases related to his acquisition of Twitter four years ago. (Gin Ten)