JPMorgan Chase will get to review some of Elon Musk's emails as it pursues a lawsuit against Tesla over a bond contract dispute that arose after Musk tweeted he might take his electric car company private.
over a bond contract dispute that arose after Musk tweeted he might take his electric car company private.
In a Wednesday hearing in Manhattan federal court, U.S. Magistrate Judge Ona Wang gave Tesla four weeks to turn over emails from Musk's account at his rocket manufacturing company SpaceX, to allow JPMorgan enough time to prepare for witness interviews. The largest U.S. bank says Musk communicated through the SpaceX account about taking Tesla private, an idea Musk floated in August 2018 by tweeting he had "funding secured" for a possible buyout though none was close."SpaceX is not an alter ego of Mr. Musk, but we don't expect there to be any issue getting those documents produced," Goralnik said.
Tesla countersued JPMorgan in January, accusing the bank of seeking a "windfall" when it re-priced the warrants.for misleading investors with the tweet. Musk, who bought Twitter last year for $44 billion, agreed in a 2018 deal with the U.S. Securities and Exchange Commission to get preapproval from a Tesla lawyer for some tweets. A federal appeals court isOur Standards:
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