Toyota Retains Global Auto Sales Crown in 2025 With Record 11.3 Million Vehicles Sold 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Woodside Energy Flags Lower 2026 Production Outlook Despite Strong Q4 Revenue Beat 
Meta Faces Lawsuit Over Alleged Approval of AI Chatbots Allowing Sexual Interactions With Minors 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Climate Adaptation at Home: How Irrigreen Makes Conservation Effortless 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Anthropic Raises 2026 Revenue Outlook by 20% but Delays Path to Profitability 
Google Halts UK YouTube TV Measurement Service After Legal Action 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Starmer’s China Visit Signals New Era in UK–China Economic Relations 
Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Advantest Shares Hit Record High on Strong AI-Driven Earnings and Nvidia Demand 
U.S. and Taiwan Strengthen AI, Semiconductor, and Drone Cooperation at High-Level Economic Talks 
SoftBank Shares Surge as It Eyes Up to $30 Billion New Investment in OpenAI 
UK Housing Market Gains Momentum in Early 2026 as Mortgage Rates Fall 
JPMorgan Chase & Co filed a lawsuit against Elon Musk's Tesla Inc. on Monday, Nov. 15. Elon Musk's company was sued for $162.2 million for alleged breach of contract related to stock warrants.
According to Reuters, JPMorgan Chase & Co filed its complaint at a federal court in Manhattan. Aside from the said amount, the bank is also seeking payment for interest, attorneys' fees, and other expenses involved in the litigation.
In the complaint, the New York-headquartered investment banking company said Tesla signed a contract pertaining to re-pricing the warrants. Based on the agreement for warrant transactions, the electric vehicle maker is required to deliver shares of its stock or cash if the share price reaches above the set contractual "strike price" once the warrants expire.
JPMorgan Chase & Co, which is also the largest bank in the United States, said the warrants lost considerable value after Elon Musk tweeted on Aug. 7, 2018, that he was mulling on taking his EV company private. He shared he had funding for the privatization at $420 per share. The bank suggested Musk's tweet affected the value that it has remained below Tesla's share price after the warrants expired in June and July of this year.
"JPMorgan demanded the due shares or cash, but Tesla has flagrantly ignored its clear contractual obligation to pay JPMorgan in full," part of the complaint lodged by the bank reads. "JPMorgan brings this action to enforce its right to payment."
CNBC reported that the conflict between Tesla and JPMorgan Chase & Co. came about when the latter made adjustments to the price of the warrants following Musk's tweet in August 2018. The former claimed it had a contractual right to make adjustments to the value after the social media posting and again when Tesla CEO later invalidated the idea of privatizing his company.
After more than a year since the tweet, Tesla stock changed and hit a three-year low of just under $177 per share before surging above $420 per share in December 2019. Later, the Tesla chief was charged with securities fraud by the U. S. Securities and Exchange Commission, and the EV company and its owner agreed to pay $20 million each for settlement.
Meanwhile, JPMorgan & Chase Co. said in the suit filing: "In total, Tesla failed to deliver 228,775 shares of its common stock, leaving JPMorgan with an open hedge position equal to that shortfall."
