JPMorgan Sues Tesla in $162 Million Warrant Dispute (Correct)

JPMorgan Chase & Co. sued Tesla Inc. seeking a $162 million payment related to a series of stock warrant transactions that were affected by Elon Musk’s short-lived attempt to take the carmaker private three years ago.

The biggest U.S. bank bought the warrants from Tesla in 2014 to help the automaker mitigate risk that its stock would be diluted by issuance of convertible notes, and to make certain federal income tax deductions, according to a complaint filed Monday in Manhattan federal court. When the warrants expired, Tesla would owe JPMorgan a payment of shares or cash if its stock ...