Deals
JPMorgan Is Sued by Second Frank Executive Seeking Legal Fees
- Olivier Amar says bank must cover his costs related to claims
- JPMorgan says Amar and Charlie Javice defrauded them in deal
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JPMorgan Chase & Co. is being sued for legal fees by a second Frank executive the bank claims defrauded it in its $175 million acquisition of the now-defunct college financial-planning site.
Olivier Amar, Frank’s former chief growth officer, on Saturday filed a sealed lawsuit in Delaware Chancery Court demanding JPMorgan cover his legal fees. Frank’s founder, Charlie Javice, last month filed a similar suit arguing that her company’s merger agreement with JPMorgan requires the bank to cover her costs.