No lawyer here, but it seems to me that there are three basic possibilities with various mutations. (1) a settlement could be announced, (2) an extension could be granted because they are still working on a settlement, but it is not finalized, (3) both parties could declare that, at this point, they are too far apart regarding settling and the defendant could request a trial. They, then of course, could continue to negotiate a settlement and come to an agreement at any time up to the start of the trial.