"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.
READ MORE: Tesla Reportedly Under DoJ Scrutiny Following Musk's Plans to Make It Private
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.