JP Morgan Sues Tesla For $162 Million After Musk Tweet In 2018

Agent009 submitted on 11/16/2021 Auto Spies Photos Timestamp: 10:24:31 AM

Views : 2,526 | Category: Misc News | Source: | SOURCE: www.autonews.com

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JPMorgan Chase & Co. on Monday sued Tesla Inc. for $162.2 million, accusing Elon Musk's electric car company of "flagrantly" breaching a contract related to stock warrants after its share price soared.

According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their "strike price" were below Tesla's share price upon the warrants' expiration in June and July 2021.



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JP Morgan Sues Tesla For $162 Million After Musk Tweet In 2018

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