Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis




(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book
Belt and Roadkill
(and paperback)

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

JPM Chase in Tesla Case Wants Magistrate For Dispute on Elon Musk Tweet Amid Nikola Trial

By Matthew Russell Lee, Patreon Maxwell Book
BBC-Guardian UK - Honduras - ESPN NY Mag

SDNY COURTHOUSE, Sept 12 –  In JP Morgan Chase's lawsuit against Tesla, about Elon Musk's tweet saying he would take Tesla private, the bank asked to file a motion for judgment on the pleadings.

 On May 4 U.S. District Court for the Southern District of New York Judge Paul G. Gardephe convened an in-person proceeding, which Inner City Press attended and live tweeted it, below.

In September 2022 in a joint letter Musk's Tesla complained that JPM Chase "contrived to manufacture a purported 'impasse' as a pretext to file [a] motion." On September 12, Chase asked that the whole matter evade Judge Gardephe and go to Magistrate Ona T. Wang. [While amid jury selection in the criminal trial of Tesla-competitor Nikola's Trevor Milton, which saw the dismissal of a prospective juror for links to Tesla.]

From May 4:  Judge Gardephe said, in essence, that Chase's claim is not susceptible to judgment on the pleadings. He is entering a case management plan and will meet again with the parties in 90 days - pending letter(s) from the parties. Inner City Press' live tweeted #MaximumMusk thread:

Judge Gardphe: Tesla has asserts a counter-claim. JPM Chase has filed a pre-motion letter seeking to file a motion for judgment on the pleading. I don't think the case is appropriate for that. Expert discovery will be needed.

 Judge Gardephe: I asked JPM Chase to let me know if in a week if, despite what I've said, they desire to file the motion and why.

Judge Gardephe: The agreements do not define commercially-reasonable methods.... Musk tweeted, "Am considering taking Tesla private... funding secured." 

[Funny to be transcribing this on Twitter, for which Musk also says, seemingly with basis, "funding secured"]

 Judge Gardephe: Tesla published a blog post attributed to Musk reversing position. JPM Chase revised the strike price after the blog post, and gave Tesla notice of the adjustment. Tesla objected to both.  Tesla seeks a declaration that JPM Chase violated its duty.

 Judge Gardephe: JPM Chase says it is entitled to a judgment as a matter of law. Assuming arguendo that the tweet constituted an "announcement event" under the agreement - I will focus on whether JPM Chase can show it was commercially reasonable as a matter of law

 Judge Gardephe: Expert testimony on what is commercially reasonable in the industry is likely necessary. Tesla disputes the reasonableness of Chase's methodology.

 Judge Gardephe: This issue not susceptible to judgment on the pleadings. [Citing a State Street case before the 2d Circuit in 2013]. Chase cited a case that does not turn on commercial reasonableness.

 Judge Gardephe: I do not believe that a motion for judgment on the pleadings is productive. So I intend to answer a case management plan. I will meet with you again in about 90 days time to make sure discovery is proceeding. Chase's lawyer: I respectfully disagree

 JPM Chase's lawyer [from David Polk] This is a unique case. Usually answers say very little, But here Tesla made counter claims, and so asserted facts.  [Judge Gardephe has already read out his view, so it's not clear how effective this presentation is going to be Judge Gardephe: Sorry, we have a jury out, I got a note [in Hezbollah case of US v. Saab, which Inner City Press is covering here - as well as a Lebanese money laundering case with a proposed suretor from JPM Chase in Tampa, here

Tesla / Musk's lawyer from  Quinn Emanuel : This case isn't subject to judgment on the pleadings. Full disclosure: Quinn Emanuel, pro bono, has written to UN (and emailed  the US State Department ) seeking to get Inner City Press back into UN - no answer, video Q here.

 Judge Gardephe: I haven't rule per se. I look for a letter from JPM Chase, the defense [Telsa] could put in a letter too.

On May 17 a case management plan was submitted and endorsed: "Counsel for the parties have conferred and their present best estimate of the length of trial is: 5 days. Deposition due by 9/14/2022. Fact Discovery due by 9/14/2022. Expert Discovery due by 12/2/2022. Pretrial Conference set for 10/6/2022 at 10:45 AM in Courtroom 705, 40 Centre Street, New York, NY 10007 before Judge Paul G. Gardephe. (Signed by Judge Paul G. Gardephe on 5/17/2022) In addition to the issues raised by the Court at the pre-motion conference, the parties' briefs should address whether judgment on the pleadings may be granted only as to certain issues. SO ORDERED by Judge Paul G. Gardephe on 5/17/2022

Inner City Press is tracking the docket. Watch this site.

The case is JPMorgan Chase Bank, National Association, London Branch v. Tesla, Inc., 21-cv-9441 (Gardephe)


@SDNYLIVE courthouse #CourtCastCast
                              200 Worth Street
Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2022 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at]