BUSINESS

JPMorgan Seeks to Halt Frank Sellers’ Legal Fees

JPMorgan Chase asked a court to end what it calls “abusive billing” by Charlie Javice and Olivier Amar, saying it has covered nearly $115 million in their legal costs under its agreement from buying their startup, Frank. In a late-Friday filing, the bank said Javice’s lawyers billed about $60.1 million and Amar’s about $55.2 million, with one firm reimbursed $35.6 million. A Delaware court earlier ruled JPMorgan must advance fees under the 2021 acquisition agreement. Javice, 33, and Amar were convicted of duping the bank. JPMorgan warned of “irreparable” harm and called the fees “patently excessive.”

Reviewed by JQJO team

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