According to foreign media reports, on November 29, JPMORGAN Chase, US loan agency, agreed to revoke a lawsuit against Tesla. The lawsuit accused Tesla “blatantly” violated the contract signed by Tesla’s equity certificate to the bank in 2014.
The two companies submitted a one -page court document to a court of Manhattan to announce the revocation of the lawsuit. The court documents showed that neither company disclosed the settlement clause. Tesla did not respond to foreign media’s comment requests.
On November 30, a spokesman for Morgan Chase stated in a statement: “Morgan Chase and Tesla have decided to establish a new business relationship and resolve the unresolved disputes between the two parties. This is a good for everyone As a result, we look forward to joint cooperation “
Morgan Chase sued Tesla in November 2021 and claimed US $ 162.2 million, saying that Tesla violated contracts related to the shares and certificates sold to the bank in 2014. The bank believes that due to Tesla CEO Elon Musk in 2018, these stocks have become more valuable.
Morgan Chase said on August 7, 2018, Musk released a tweet that he might privatize Tesla at a price of $ 420 per share and said he had “received funds.” 17 days later, he announced the abandonment of the plan, which led Tesla’s stock price to fluctuate sharply. Morgan Chase said that in these two incidents, Morgan Chase adjusted the exercise price to “maintain the same fair market value as before the release of the tweet.”
Morgan Chase stated that Tesla must re -priced the equity certificate after Musk’s tweets were released, and required it to pay according to Tesla’s stock price’s subsequent growth, but the company did not fulfill its payment obligations. Tesla’s against JP Morgan Chase in January 2023, accusing the bank seeking “huge profits” when re -pricing the equity certificate.
Musk acquired Twitter for $ 44 billion in 2022, and reached an agreement with the US Securities and Exchange Commission (SEC) in 2018 to agree to obtain pre -approval by Lawyer Tesla before issuing some tweets.