Report: Elon Musk was offered an SEC settlement, but decided to fight

Tesla CEO Elon Musk was offered a deal that would have settled the federal fraud lawsuit he’s now facing, but decided to fight the suit instead, the Wall Street Journal reports, citing unnamed sources.

The settlement would have required Tesla to pay a fine, but would have allowed Musk to remain as the company’s CEO, CNBC reports separately, citing its own sources.

Musk pulled out of the deal early Thursday, just as the U.S. Securities and Exchange Commission prepared to finalize the settlement…