Elon Musk threatens JPMorgan with a review on Yelp, an online crowd-sourcing review platform for businesses, if the bank decides not to drop its lawsuit against the EV firm of the billionaire, Tesla.
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US entrepreneur and business magnate Elon Musk gestures during a visit at the Tesla Gigafactory plant under construction, on August 13, 2021 in Gruenheide near Berlin, eastern Germany.
Elon Musk vs. JPMorgan Tesla Lawsuit
JPMorgan took the electric vehicle tech giant, Tesla, to court last Nov. 16, claiming that the firm of Musk owes the bank a whopping $162 million as per the report by Futurism.
The American bank said in a statement it issued after filing the lawsuit that the firm “has provided Tesla multiple opportunities to fulfill its contractual obligations.”
However, JPMorgan further claimed that Tesla “forced this issue into litigation,” citing it as one of the reasons why the bank decided to sue the EV giant.
On top of that, JPMorgan also argued in the lawsuit that Tesla owes the bank a total of $162 million due to a breach of contract from years back.
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People walk past the JP Morgan Chase Building on Park Avenue May 15, 2012 in New York. The US Justice Department has opened an investigation into JPMorgan Chase’s more than $2 billion trading loss that the Wall Street bank announced last week, media reports said Tuesday.
According to the report by New York Post, JPMorgan further accused the company founded by Musk of refusing to honor a stock warrant agreement between the two firms way back in 2014.
To be precise, the giant American bank filed a lawsuit against the EV maker in the United States District Court of the Southern District of New York.
Elon Musk’s Final Warning to JPMorgan
Now, the founder and CEO of Tesla responds to the million-dollar lawsuit filed by the New York-based bank in a Musk fashion.
The billionaire told The Wall Street Journal after the news outlet asked for his comment that he has a final warning for JPMorgan.
In a brief response to the news outlet, Musk said that he would leave “a one-star review on the Yelp” of JP Morgan, that is if the bank decides not to drop its lawsuit against the EV maker.
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Elon Musk vs. JPMorgan CEO
The Journal further said in a report that both Musk and the CEO of JPMorgan, Jamie Dimon, have been in bad blood for years, citing sources who are close to the matter.
That said, if the report is to be believed, the feud between the two execs only reached the public eye after the bank brought the EV giant to the US court.
It is worth noting that JPMorgan used to have a role in the IPO of Tesla way back in 2010. And the relationship between the two firms did not end there.
In fact, it continued in the years to come, but the New York-based bank always lagged behind with other counterparts, such as Morgan Stanley and Goldman Sachs.
However, public records retrieved by the Journal revealed that JPMorgan and Tesla stopped working together in 2016.
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Written by Teejay Boris
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