TechFlow News: On April 2, according to JIN10 Data, Elon Musk and the U.S. Securities and Exchange Commission (SEC) informed the judge that they are heading toward trial to resolve the regulator’s allegations that Musk defrauded investors in the social media platform prior to his 2022 acquisition of Twitter. The joint status report was filed Wednesday with the U.S. District Court for the District of Columbia—just two weeks after both sides’ attorneys stated they were negotiating a settlement. In the new filing, the attorneys indicated that they and their clients have discussed alternative dispute resolution options.
The filing states: “The parties believe that, under current circumstances, the Court’s Alternative Dispute Resolution program—or any other form of alternative dispute resolution—is not beneficial to this case.” Musk has recently encountered setbacks in other legal cases related to his four-year-old acquisition of Twitter.
