JPMorgan Chase & Co. said it has not recouped $162 million it lost when company founder Elon Musk abruptly abruptly said he wanted to take Tesla Inc. private, writing in a new securities filing that it is pursuing enforcement action against the electric car maker.
Musk, CEO of the company, repeatedly said over several hours that he had secured funding to go private, on Monday evening before backing off without disclosing what he was referring to. The normally voluble entrepreneur sent a series of tweets before then backtracking and ultimately giving a press conference explaining he would take the car maker private.
In a statement the company’s lawyers cited internal investigation as the basis for filing for an enforcement action over “breaches of corporate rules.” They said: “Tesla simply ignored the findings.”
Tesla did not respond to requests for comment.
There were no details about what conduct had allegedly led to losses for JPMorgan, including in the securities filing filed Thursday evening.
“In this case, among other issues, Tesla refuses to cooperate with the enforcement efforts of the SEC,” the bank said in the filing.
JPMorgan does not often publicize enforcement actions it has launched or pursued as part of the settlement and enforcement process. It usually just files that news with securities regulators.