Home » JPMorgan sues Tesla for $162m over Musk tweets

JPMorgan sues Tesla for $162m over Musk tweets

by LLT Editor
17th Nov 21 11:27 am

JPMorgan has sued Tesla for $162.2m over the electric car company“flagrantly” breaching a 2014 contract relating to stock trading options that Tesla sold to the bank.

The suit that has been filed in a Manhattan federal court is over “a dispute over how JPMorgan repriced its Tesla warrants as a result of Musk’s notorious 2018 tweet that he was considering taking the carmaker private”, the Guardian reported.

The news comes days after Elon Musk sold $5bn in Tesla stock days after a Twitter poll.

“We have provided Tesla multiple opportunities to fulfil its contractual obligations, so it is unfortunate that they have forced this issue into litigation,” a spokesperson for JPMorgan said in a statement.

Tesla did not respond to requests for comment.

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