Wow, incredibly obdurate to continue "Operation Footbullet" to this extreme. Musk, apparently channelling Trump, wants to believe that Twitter is some kind of verbal free-fire zone without legal consequences. SEC did not think so, but even after taking a right spanking and handing them $40M for the pleasure, he still fails to grasp the wisdom of the old axiom "... at least stop digging!"
I suppose though it is also possible that Unsworth has [understandably] set his face against allowing the arrogant billionaire to buy his way out of this one, thus will not accept any out-of-court settlement and will insist on maximising Musk's embarrassment in the full glare of public scrutiny.
Either way, if it actually goes to trial I think Musk will make a terrible witness on the stand, and, again like Trump, would be very susceptible to falling into a "perjury trap" (i.e. largely cannot differentiate his own confabulations from objective fact), so this self-inflicted fiasco can always get much worse for him.
The chances of him succeeding in California seem slim indeed and in the parallel case in England are literally zero.
The only real debate left is to guess where the summit of damages will peak: I'm going to say north of $40M for both cases together and wish Mr Unsworth every happiness in spending his new-found fortune.