"The bank sued Javice in late 2022, claiming that she and her cofounder, Olivier Amar, had faked data to inflate the value of their startup, Frank, which JPMorgan Chase paid $175 million to acquire. But Javice won an order requiring the bank to advance her legal fees, which is common in merger agreements. Three years later, JPMorgan claims that Javice and her lawyers have milked that order far past the point of what's reasonable."
"The bank's lawyers said Javice's lawyers continued to expense personal items into 2025, "including a pet hair roller, laptop privacy screens, stain remover, allergy and cold medication, nutritional supplements, tea strainer, face masks, a coffee maker, lamps, a kettle, Uber rides for ordinary daily commute to a timekeeper's home office, 'groceries for meal prep,' bottles of wine, batteries, room upgrade charges at $300 per night, and meals at New York's best restaurants.""
JPMorgan sued Charlie Javice alleging she and cofounder Olivier Amar falsified data to inflate Frank's value after a $175 million acquisition. A merger agreement required JPMorgan to advance Javice's legal fees, and a Delaware judge ordered the bank to do so. JPMorgan now contends Javice and her lawyers submitted excessive, personal, and unreasonable expenses for reimbursement, including 15 pounds of receipts. Reported charges include high-end hotels, first-class flights, $530 in gummy bears, copious alcohol, a $581 dinner with a $161 seafood tower, and numerous household and commuting items. Quinn Emanuel says the bank is trying to avoid paying contractual legal bills.
Read at Business Insider
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