JPMorgan Sues Tesla for $162 Million in Dispute Over 2014 Stock Warrant Agreement and Elon Musk Tweets

JPMorgan Sues Tesla for $162 Million in Dispute Over 2014 Stock Warrant Agreement and Elon Musk Tweets
Tesla Inc. CEO Elon Musk during a delivery event for Tesla China-made Model 3 cars at its factory in Shanghai on Jan. 7, 2020. Aly Song/Reuters
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JPMorgan Chase & Co. is suing electric vehicle maker Tesla and seeking $162 million in payment in a dispute over a 2014 stock warrant agreement, according to a complaint filed in Manhattan federal court on Monday.

In a court filing obtained by CNBC, the multinational investment bank alleges that Telsa breached the terms of a contract it entered into regarding stock warrants which required the vehicle maker to deliver either “shares of its stock or cash to JPMorgan if, at the time the warrants expired in June and July 2021, Tesla’s share price was above the contractual ’strike price.'”
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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