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.
Analysts think the authorities might be indirectly behind the “de-banking” of crypto-related bank accounts.
(Bloomberg) -- Tesla Inc. countersued JPMorgan Chase & Co. over a suit the bank filed last year seeking a $162 million payment related to a series of stock warrant transactions.Most Read from BloombergStocks Storm Back From 4% Rout to Close Higher: Markets WrapUAE Says New Attack Repelled as Yemen’s Houthis Vow MoreChina’s ‘Little Giants’ Are Its Latest Weapon in the U.S. Tech WarCrypto Crash Erases More Than $1 Trillion in Market ValueMacron Plans Putin Call; Pentagon Readies Troops: Ukraine Up