After three years of intense legal disputes, the US bank JPMorgan has withdrawn its lawsuit against the electric car manufacturer Tesla. The dispute revolved around stock option transactions and their revaluation in connection with tweets by Tesla CEO Elon Musk from 2018.

Back then, Musk announced on Twitter that he wanted to take Tesla off the stock market and claimed that funding for this was secured.

The bank had argued that Musk's tweets had influenced the valuation of stock warrants, which were agreed between Tesla and JPMorgan in 2014. Due to the stock's volatility, JPMorgan adjusted the exercise price of the options and called on Tesla to deliver shares worth $162 million. Tesla rejected this demand and accused the bank of intentionally breaching the agreement to achieve unlawful profits.

Both parties have now announced that they have settled the conflict. According to a joint statement, JPMorgan and Tesla look forward to resuming their business collaboration. Specific details about the terms of the agreement or possible payments were not disclosed.

The news of the settlement had a positive effect on Tesla's stock, which at times was 2.47 percent higher at $353.70.