Elon Musk says the US forced him to sign a deal with Tesla Business

In his legal filing on Tuesday, Mr. Musk denied misleading investors, but was coerced into signing the deal to save Tesla.

“Relentless regulatory pressure from the SEC, combined with the collateral consequence of the SEC’s complaint against me, caused a scenario in which I was forced to sign the consent decree in 2018,” he wrote. .

“I have learned from Tesla’s Investor Relations team that several of Tesla’s major shareholders may divest their ownership of Tesla – which would have a significant impact on Tesla’s financing – if the matter is not resolved. settled quickly. I’ve entered into the Consent Decree for Tesla’s Immediate Survival.

“I have never lied to shareholders. I would never lie to shareholders. I entered into the consent decree for the survival of Tesla, for the benefit of its shareholders.

Mr. Musk’s lawyers asked a New York court to throw out the 2018 deal and claimed the SEC was “targeting Mr. Musk and acting in bad faith”.

“The SEC’s vendetta against Mr. Musk should be stopped,” the filing said.

The SEC had no comment.