Elon Musk and SEC Headed for Trial Over Twitter Stake Disclosure Dispute

Deep News04-02

Elon Musk and the U.S. Securities and Exchange Commission (SEC) have informed a judge that they are preparing for a trial regarding the regulator's allegations. The SEC has accused the billionaire of misleading investors of the social media platform prior to its acquisition in 2022. This joint status report, filed Wednesday in a Washington federal court, comes just two weeks after attorneys for both sides indicated they were "exploring potential settlement options" for the lawsuit initiated by the SEC in January 2025. In the newly submitted document, the legal teams stated that they and their clients had discussed alternative dispute resolution methods. The filing noted: "The parties agree that this case is not currently suitable for the court's alternative dispute resolution process, or any other form of alternative dispute resolution."

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