JPMorgan

JPMorgan and Tesla End Legal Dispute Over Stock Warrant Battle Tied to Musk’s Tweet

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New York — JPMorgan Chase & Co. and Tesla Inc. have mutually agreed to end their prolonged legal confrontation, dropping all claims against each other, a court filing revealed on Friday. This resolution puts an end to a contentious issue that began with a 2021 lawsuit filed by JPMorgan, linked to a 2014 agreement involving stock warrants and reiterated by an unexpected tweet from Tesla’s CEO, Elon Musk. The financial dispute arose from Musk’s 2018 announcement on Twitter considering the privatization of Tesla at $420 per share, a declaration that he had the financing lined … Read more

JPMorgan and Tesla Reach Settlement, Ending Legal Dispute Over Stock Warrants

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JPMorgan Chase & Co. has agreed to drop its lawsuit against electric car giant Tesla Inc. over a dispute related to stock warrants, marking an end to a high-profile legal tussle between the two corporate behemoths. The lawsuit, initiated by JPMorgan, stemmed from a disagreement on the adjustment of warrant transaction values following Tesla CEO Elon Musk’s controversial 2018 tweet about taking the company private. The controversy began when Musk tweeted in August 2018 that he had “funding secured” to take Tesla private at $420 per share, a statement that dramatically fluctuated Tesla’s stock price … Read more

JPMorgan Hit with Class-Action Lawsuit Over Low Interest on Uninvested Client Cash

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New York — JPMorgan Chase, along with its subsidiary J.P. Morgan Securities, finds itself at the center of a burgeoning legal storm as it faces a proposed class-action lawsuit. The litigation accuses the financial giant of shortchanging clients by paying minimal interest rates on uninvested cash, while purportedly reaping substantial profits from these low-cost funds. Filed by Illinois resident Dan Bodea, the lawsuit claims that J.P. Morgan Securities routinely transferred client cash into low-yield accounts at its parent bank. This practice, according to the complaint, allowed the company to benefit from favorable borrowing terms at … Read more