I don't run a company, and I'm not responsible for maximizing return on my shareholders' investment. So maybe I lack the mental schemas that make these sorts of statements seem reasonable, but they always strike me as short-sighted. Yes, admitting wrongdoing may open you up to legal liability. But it seems to me that, in the long run, it's far better to take your licks and own up to your mistakes than to hide behind the shield of pending litigation. My gut instinct is to offer a sincere mea culpa and provide a transparent roadmap to improvement, and if you lose a court case then so be it. I'd like to think that the good will and respect you build from accountability and honesty will ultimately outweigh any short-term losses from court settlements or judgements.
As I said, I don't live in that world. I would be saddened, though not necessarily surprised, to learn that I was wrong.