News > JPMorgan sues Tesla for $162 million over unpaid warrants, Elon Musk's tweet

JPMorgan sues Tesla for $162 million over unpaid warrants, Elon Musk's tweet

LiveMint | 16/11/2021 01:25 PM | Click to read full article

JPMorgan Chase & Co. sued Tesla Inc. seeking a $162 million payment for warrants that expired above their strike price, which had been muddied by Elon Musk’s tweet in 2018 threatening to take the company private.

JPMorgan claims the Aug. 7, 2018 tweet amounted to a significant corporate transaction that allowed it to adjust the strike price, and the bank reduced it to maintain the same fair market value as before the announcement.