How was Musk's offer - a public disclosure with few conditions or contingencies, made in bad faith? At face value, it does not violate basic standards of honesty or appear to deliberately mislead.
"Funding was indeed secured. I should say I do not have respect for the SEC in that situation. I don’t mean to blame everyone at the SEC, but certainly the San Francisco office. The SEC knew that funding was secured. They pursued an active public investigation, nonetheless. I was forced to concede to the SEC unlawfully."