JPMorgan Seeks to End Javice’s ‘Blank Check’ for Legal Fees

JPMorgan Chase & Co. asked a Delaware judge to end its obligation to cover legal costs for Charlie Javice and another executive convicted of defrauding the bank, calling the $115 million it’s already paid “unprecedented and shocking.”

Javice and Olivier Amar were found guilty in March of faking user data for their student-finance site, Frank, to get JPMorgan to pay $175 million to acquire it in 2021. A New York federal judge last month sentenced Javice to seven years in prison for fraud.

In Friday filings, JPMorgan asked the Delaware Chancery Court to terminate a requirement that it cover legal ...