A Delaware court ruled on July 3, 2026, that JPMorgan Chase must continue covering legal expenses for Charlie Javice. Javice founded the college financial aid startup Frank.
JPMorgan acquired the startup for $175 million. The bank completed this purchase in 2021. It later alleged Javice fraudulently misrepresented the startup's user base.
A jury convicted Javice of fraud in March 2025. Her legal fees have accumulated to approximately $144.2 million. This amount nearly equals the original purchase price of the company.