• News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Monday, October 6, 2025
  • Login
Auto Journal Africa
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
Ask Autojorunal AI
No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa
No Result
View All Result
Morning News
No Result
View All Result
Home Electric Vehicles

JPMorgan drops $162m lawsuit against Tesla over Musk’s 2018 tweet

David Ijaseun by David Ijaseun
December 1, 2024
in Electric Vehicles
0
Elon Musk Tesla CEO

Elon Musk Tesla CEO

827
SHARES
15.3k
VIEWS
Share on FacebookShare on Twitter

JPMorgan Chase & Co. has dropped its $162 million lawsuit against Tesla Inc., ending a three-year legal battle over disputed stock warrant transactions. The move was formalized in a joint court filing on Friday, with both sides agreeing to dismiss their claims without the option to refile.

The decision marks a fresh chapter for the financial giant and the electric vehicle maker, who announced plans to rebuild their commercial relationship. “This is a good outcome for all, and we look forward to working together,” a JPMorgan spokesperson said in a statement on Saturday.

READ ALSO

U.S. faces sharp drop in electric vehicle sales after tax credit ends

Nigeria’s SiltechWorld makes history with Africa’s first EV export to U.S.

The lawsuit stemmed from a 2014 agreement where Tesla issued stock warrants to JPMorgan. Under the pact, Tesla was required to pay the bank in cash or shares if its stock traded above a specific price. However, an August 2018 tweet by Tesla CEO Elon Musk—where he claimed to have “funding secured” to take the company private at $420 a share—sparked volatility in Tesla’s stock and disrupted the deal.

JPMorgan alleged it was entitled to adjust the warrants’ strike price due to the tweet and subsequent developments. Tesla countered, accusing the bank of bad faith and exploiting the situation for financial gain. The dispute escalated with each side filing claims against the other.

A turning point came in September, when a federal judge denied JPMorgan’s request for a pretrial ruling in its favor, leaving key issues unresolved. Legal analysts said the ruling likely influenced the bank’s decision to drop the case.

Details of any settlement remain undisclosed. Tesla did not immediately respond to requests for comment on the resolution, according to a Bloomberg report.

The case, which highlighted the financial ripples of Musk’s controversial tweet, was filed in Manhattan’s US District Court under Judge Paul Gardephe.

Read more on Elon Musk’s net worth soars $70bn as Trump victory powers Tesla surge

Tags: electric vehiclesTeslaTop premium

Related Posts

U.S. electric vehicle tax credit
Electric Vehicles

U.S. faces sharp drop in electric vehicle sales after tax credit ends

October 5, 2025
Siltech World Falcon Elohim bike in USA (4)
Africa

Nigeria’s SiltechWorld makes history with Africa’s first EV export to U.S.

September 24, 2025
BYD plug-in hybrid electric vehicle (PHEV)
Electric Vehicles

Chinese carmakers outsell Renault, Audi in Europe as plug-in hybrid sales jump 121%

September 24, 2025
German self-driving auto indutry [Source Quartz]
Electric Vehicles

Germany’s auto industry risks falling behind in self-driving race

September 22, 2025
Ford Motor Electric vehicles
Electric Vehicles

Ford to cut 1,000 Jobs in Cologne as Europe’s EV demand slows

September 16, 2025
Nissan Ariya electric vehicles (EVs)
Electric Vehicles

Nissan’s Ariya EVs land in Australia with lower-than-expected prices

September 15, 2025
Next Post
2025 hybrid cars

Speed and sustainability: The top 5 hybrid cars to watch in 2025

POPULAR NEWS

Inferno at Toyota 1000 Desert Race consumes 49 cars

Inferno at Toyota 1000 Desert Race consumes 49 cars

July 3, 2023
Mobius Motors

Mobius Motors: Rising taxes, competition ends Kenyan SUV maker’s journey

August 7, 2024
Autojournal car race

Get ready for the biggest RACE show this December in Nigeria

August 12, 2024
From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

From style to sustainability: How Geely Auto is shaping the future of luxury vehicles

October 25, 2024
Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

Oyo State Governor gifts Saheed Osupa Toyota Prado SUV worth ₦70M 

August 22, 2023

EDITOR'S PICK

Airbus

Airbus boosts profits in 2024 as deliveries climb, expanding lead over Boeing

February 27, 2025
Global EV sales hit 9.1 million in H1 2025 despite U.S. slowdown

Global EV sales hit 9.1 million in H1 2025 despite U.S. slowdown

July 17, 2025
Asia-Pacific airlines

Asia-Pacific airlines lead global growth, passenger numbers soar

January 6, 2025
Mercedes-Benz EV battery factory

Mercedes-Benz delay battery factory expansion amid lower EV sales

July 11, 2024

About

Auto Journal Africa is the leading online and print magazine for automobiles in Africa.

Follow us

Recent Posts

  • Renault plans to cut 3,000 jobs to stay competitive amid rising costs
  • U.S. faces sharp drop in electric vehicle sales after tax credit ends
  • Minister backs Nigerian innovation, picks Nord Demir as official vehicle
  • Uber launches women-only rides in South Africa to boost safety and trust

Links

  • Privacy Policy
  • About Us
  • Contact Us
  • News
  • Reviews
  • Events
  • Tools
  • For Sale

© 2023 Auto Journal

No Result
View All Result
  • News
    • Tech
    • Lifestyle
    • Business
    • Opinion
    • Premium
  • Reviews
  • Events
    • Nigeria
    • South Africa
  • Tools
    • Price Guide
    • Find your idea car
    • Car valuation
    • Sell your car
    • Car insurance quote
    • Locate a dealer
    • Deals
  • For Sale
    • New Cars for sale
    • Cheap Cars for sale
    • Bikes for sale
    • Trucks for sale
    • Boats for sale
    • Jets for sale in Africa
    • Cars under 5m
    • EV in Nigeria
    • EV in South Africa

© 2023 Auto Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In