Today news
About the same in other media
JPMorgan sues Tesla for $162m after Musk tweets soured share deal
Reading now: 884
JPMorgan has sued Tesla for $162.2m, accusing Elon Musk’s electric car company of “flagrantly” breaching a 2014 contract relating to stock trading options that Tesla sold to the bank.
The options, or warrants, give the holder the right to buy a company’s stock at a set “strike” price and date. The suit, filed in a Manhattan federal court, centres on 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.
It is unusual for a major Wall Street bank to sue such a high-profile client, although JPMorgan has done relatively little business with Tesla over the past seven years, according to Tesla’s filings and Refinitiv data.
“We have provided Tesla
Read more on theguardian.comAbout this in other media
Crypto Enthusiasts Turn to Technicals for Guidance After Slump ndtv.com /3 years ago
UK workforce shrinks after sharp rise in people choosing to leave work theguardian.com /3 years ago
Key questions answered for customers after Bulb Energy’s collapse theguardian.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
