Musk, SEC Say Fight Over Twitter Share Stockpile May Go to Trial

Elon Musk and the US Securities Exchange Commission told a judge they are heading toward a trial over the regulator’s allegations that the billionaire cheated Twitter Inc. investors before his 2022 buyout of the social media platform.

The joint status report filed Wednesday in Washington federal court comes just two weeks after lawyers said they were engaged in talks about “potential resolution” of the lawsuit the SEC filed in January 2025. The attorneys said in the new filing that they and their clients discussed alternative dispute resolution options.

“The parties do not believe that this case would benefit at this ...