Investment bank says it lost millions because of tweets by Elon Musk that he might take electric carmaker private
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.
Continue reading...source https://www.theguardian.com/technology/2021/nov/17/jpmorgan-sues-tesla-for-162m-after-musk-tweets-soured-share-deal
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