A Delaware judge ruled that JPMorgan Chase & Co. must continue to cover former Frank CEO Charlie Javice's legal expenses, rejecting the bank's argument that the $74 million in fees were excessive. The decision means JPMorgan remains on the hook for Javice's defense costs as legal battles stemming from the acquisition of her fintech startup continue.

The court found JPMorgan failed to demonstrate that the legal fees incurred by Javice were unreasonable. This ruling addresses a specific point of contention within the broader litigation between the banking giant and its former partner, highlighting the ongoing financial entanglements following the ill-fated acquisition. The bank acquired Frank in 2021.

This judicial decision represents a setback for JPMorgan's efforts to curtail its financial exposure related to the Frank acquisition and its aftermath. The bank had sought to limit its liability by challenging the necessity and cost of Javice's legal representation. The judge’s finding means JPMorgan must continue to fund these significant legal outflows.