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Tesla CEO Elon Musk Calls US Regulator’s Accusations of Fraud ‘Unjustified’

MOSCOW (Sputnik) – Tesla founder Elon Musk has refuted the US Securities and Exchange Commission’s (SEC) accusations against him of making false and misleading statements to the company’s investors, calling them unjustified.
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"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 in a statement to the CNBC broadcaster on late Thursday.

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On Thursday, SEC filed a lawsuit against Musk for fraud, citing his public statements on taking the company private. The regulator among other recommendations has asked a federal judge to prevent Musk from serving as a head of a public company.

On August 7, Tusk via Twitter said he could take the California-based company private at a price of $420 per share just as the stock was trading at around $358 per share. Tesla’s stock price increased by more than six percent from the time of Musk's tweet until the close of trading that day on the NASDAQ exchange.

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