Deep Tide TechFlow News, April 2nd, according to Jinshi Data, Elon Musk and the U.S. Securities and Exchange Commission (SEC) informed the judge that both parties are heading toward a trial to resolve the regulator's allegations that Musk deceived social media platform investors prior to acquiring Twitter in 2022. The joint case progress report submitted to the Washington Federal Court on Wednesday comes just two weeks after both sides' lawyers stated they were negotiating a settlement. In the new documents, the lawyers indicated that they and their clients have discussed alternative dispute resolution options.

The document states: "Both parties believe that, under the current circumstances, the court's alternative dispute resolution procedures or any other form of alternative dispute resolution are of no benefit to this case." Musk has recently faced setbacks in other legal cases related to his acquisition of Twitter four years ago.