JPMorgan Chase and Tesla have decided to end their legal fight over a $162 million stock warrant issue related to Elon Musk’s 2018 tweet about taking Tesla private at $420 per share.
The lawsuit, filed in 2021, focused on changes to the warrant strike prices after Musk’s tweet caused Tesla’s stock price to fluctuate. Both companies have now asked the court to dismiss the case, but no details about any settlement were provided.
JPMorgan said the dispute has been resolved and that they will now focus on a “new commercial relationship” with Tesla, calling the outcome positive for everyone involved.
