I am happy to acknowledge when I have done wrong, and bear the consequences that come with that. After all, getting things wrong is how we learn to do things right. I don't fear failure, and it doesn't keep me awake at night.
When you get something wrong, it is instinct to want to defend your position and prove that you are not wrong. More often than not, it is better to own up to wrongdoing, to get it out of the way. However, if you are not wrong, then there is justification in defending your reputation.
But, can you be justified in defending your position when you are, in fact, wrong? If the accusation of wrongdoing has been exaggerated out of proportion, then I think you have some right, if not obligation, to set the record straight. It might be reasonable to admit partial mea culpa, but, taking the wrap on a situation that has been laced with some mayonnaise is not.
Sometimes the injustice in the accusation of exaggerated wrongdoing can spur you on to set it right. You don't need to be 100% right, but sometimes you need to set the record straight.
I am right that it's ok to be wrong.