A Delaware court ruled JPMorgan Chase must continue covering legal expenses for Frank founder Charlie Javice.
The bank acquired the student financial aid startup for $175 million in 2021.
Javice was convicted of fraud in March 2025 for fabricating user numbers.
Legal fees for the case have accumulated to $144.2 million.
This total nearly equals the original $175 million purchase price of the company.
JPMorgan unsuccessfully argued that the legal fees were excessive.
Bank shares declined 0.2% in after-hours trading following the July 2 announcement.