Tesla received a lawsuit after Elon Musk's tweet

JPMorgan applied to court, claiming that Tesla had ‘flagrantly’ violated the terms of the contract. Now more than $ 162 million is being demanded from the defendant, excluding legal costs and interest.

The lawsuit states that JPMorgan acquired a warrant from Tesla in 2014. It can be realized, but on condition: the price of Tesla shares by the time of its expiration (summer 2021) must be higher than the price specified in the original contract. The bank believes that they have the right to adjust the strike price, since they had significantly reduced it after Elon Musk's tweet in 2018 - then he wrote that he could buy back Tesla shares at $ 420 and make the company private.

Then JPMorgan adjusted the price by increasing it.

Tesla shares grew tenfold during this time. The lawsuit said the bank's adjustments were appropriate and in line with the contract, but Tesla refused to pay the full amount it owed.

The bank says Tesla's failure to pay or transfer the shares is tantamount to default, reports Reuters. Tesla complained about JPMorgan in 2019, noting that the bank's adjustments were an attempt to take advantage of changes in stock volatility. However, Tesla did not challenge the calculations of JPMorgan.