Update: Elon Musk and Tesla settle with SEC.
Tesla’s billionaire CEO and chairman, Elon Musk, is calling the Securities and Exchange Commission’s fraud claims against him “unjustified” after reportedly passing up a settlement deal that would have temporarily forced him from a leadership post.
“This unjustified action by the SEC leaves me deeply saddened and disappointed,” Musk said in a statement distributed Sept. 27 after the SEC filed its civil complaint. “I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way.”
