JPMorgan Chase & Co. (JPM-PM)
After hours:
- Reuters
UPDATE 1-Tesla countersues JPMorgan, claims bank sought 'windfall' after Musk tweet
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. "JPMorgan pressed its exorbitant demand as an act of retaliation against Tesla both for it having passed over JPMorgan in major business deals and out of senior JPMorgan executives' animus toward Mr. Musk," Tesla said.
- Reuters
Tesla countersues JPMorgan, claims bank sought 'windfall' after Musk tweet
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. "JPMorgan pressed its exorbitant demand as an act of retaliation against Tesla both for it having passed over JPMorgan in major business deals and out of senior JPMorgan executives' animus toward Mr. Musk," Tesla said.
- Baystreet
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