Elon Musk: ‘deeply saddened and disappointed’ by SEC lawsuit

Tesla CEO Elon
Musk.
Lucy Nicholson /
Reuters

• Tesla CEO
  Elon
  Musk said he is “deeply saddened and disappointed” by the
  Securities and Exchange Commission’s lawsuit against him in a
  company statement to Business Insider. 
• “This unjustified action by the SEC leaves me deeply saddened
  and disappointed. 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,” Musk said.
• The SEC filed a lawsuit against Musk on
  Thursday, alleging that Musk made “false and misleading
  statements” in August about taking the automaker private.
• The agency said in the lawsuit that it seeks to bar Musk from
  being an officer or director of a public company.

Tesla
CEO Elon Musk said he is “deeply saddened and disappointed” by
the Securities and Exchange Commission’s
lawsuit against him in a company statement to Business
Insider. 

“This unjustified action by the SEC leaves me deeply saddened and
disappointed. 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,” Musk said.

The SEC filed a lawsuit against Musk on Thursday, alleging
that Musk made “false and misleading statements” in August about
taking the automaker private. The agency said in the lawsuit that
it seeks to bar Musk from being an officer or director of a
public company.

On August 7, Musk said that he had “funding secured” to convert
Tesla into a private company at $420 per share and only needed a
shareholder vote to confirm a go-private deal. In its lawsuit,
the SEC alleges that Musk had not acquired the necessary funding
or even discussed the terms he mentioned with any potential
funding sources.

Read more about the SEC’s lawsuit against Elon Musk:

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