Tesla Files Countersuit Against JPMorgan in Warrants Dispute (1)

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.

The automaker said in a complaint in federal court in New York on Monday that JPMorgan took advantage of an August 2018 tweet by Elon Musk to reduce the strike price of more than 1.9 million warrants it acquired on Tesla shares in 2014. Tesla called JPMorgan’s suit a “cynical” attempt to reap a windfall from the deal.

JPMorgan denied Tesla’s claims in a statement. “There is no merit to their claim,” ...