Tesla Countersues JPMorgan, Claims Bank Sought ‘Windfall’ After Musk Tweet

Tesla Countersues JPMorgan, Claims Bank Sought ‘Windfall’ After Musk Tweet
The Tesla logo is seen outside of their showroom in Wash., on Aug. 8, 2018. Saul Loeb/AFP via Getty Images
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NEW YORK—Tesla Inc. on Monday fought back against JPMorgan Chase & Co over a disputed bond contract, countersuing the bank for seeking a “windfall” following Elon Musk’s notorious 2018 tweet that he might take his electric car company private.

In a filing in Manhattan federal court, Tesla accused JPMorgan of “bad faith and avarice” for demanding $162.2 million after the bank had unilaterally changed the terms of warrants it received when Tesla sold convertible bonds in 2014.