Elon Musk calls SEC fraud lawsuit 'unjustified,' says he acted in best interests of investors

Tesla CEO Elon Musk has called the SEC's allegations of fraud "unjustified" and said he acted in the best interests of investors.

"This unjustified action by the SEC leaves me deeply saddened and disappointed," Musk said in a statement to CNBC. "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."

This story is developing. Please check back for updates.

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