JP Morgan Is Still Cleaning Up Its ‘Disastrous’ $175M Frank Acquisition

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JP Morgan paid $175 million for a startup it believes it was conned into buying. Now, amid an ongoing legal battle, it’s got to clean up a very public mess.

the deal as"a huge mistake," the financial giant continues to deal with the fallout.

Got a tip about Frank or JP Morgan? Or other stories we should know about? Reach out to Alexandra S. Levine at alevine@forbes.com or 526–1242 on Signal/WhatsApp, and Iain Martin at iain.martin@forbes.com. “After conducting several meetings with Javice to learn about Frank’s business, JPMC initially opted not to pursue a transaction,” it says. But later that year, “following renewed contacts from Frank and its investment bank LionTree Advisors,” the deal was back on the table. LionTree declined to comment.

 

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Lol, first The theranos lady & this. I'm wondering if there's a pattern of institutions throwing money at frauds fronted by certain folk.

Another Liar like Elizabeth Holms. These guys gotta stop thinking with their dicks when making investments into startups with young women

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