JPMorgan Sues Tesla For $162 Million Over Expired Stock Warrants

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ValueWalk

JPMorgan Chase & Co (NYSE:JPM) has sued Tesla Inc (NASDAQ:TSLA) for $162.2 million, and accused its CEO of breaching a contract related to expired stock warrants the bank alleges were affected by Elon Musk’s “funding secure” tweet from 2018. Q3 2021 hedge fund letters, conferences and more LawsuitAs reported by CNBC, Tesla was supposed to deliver shares, or cash, if its share price went above a contractually set “strike price” by a certain expiration date. However, Musk’s 2018 tweet about taking the firm private for $420 a share prompted JPMorgan to adjust the value of the warrants. The bank d…

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