December 5, 2023



JPMorgan sues Tesla for $162 mln over warrants, Musk tweets


By Johnathan Stempel

November 16, 2021

NEW YORK, Nov 15 (Reuters) – JPMorgan Chase & Co (JPM.N)has sued Tesla Inc (TSLA.O) for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly” breaching a contract the two corporate giants agreed in 2014 relating to warrants Tesla sold to the bank.

Warrants give the holder the right to buy a company’s stock at a set “strike” price and date. The suit, filed in a Manhattan federal court, centers on a dispute over how JPMorgan re-priced its Tesla warrants as a result of Musk’s notorious 2018 tweet that he was considering taking the carmaker private.

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