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*'''Priors: form for regulatory bother''': Frank had some form for grandiosity on its website, having been ticked off previously for over-stating its connections with the Department of Education<ref>https://www.businessinsider.com/charlie-javice-frank-jpmorgan-settlement-department-education-2018-2023-1?</ref> and making misleading claims about COVID.<ref>https://www.ftc.gov/system/files/warning-letters/covid-19-letter_to_frank.pdf</ref> | *'''Priors: form for regulatory bother''': Frank had some form for grandiosity on its website, having been ticked off previously for over-stating its connections with the Department of Education<ref>https://www.businessinsider.com/charlie-javice-frank-jpmorgan-settlement-department-education-2018-2023-1?</ref> and making misleading claims about COVID.<ref>https://www.ftc.gov/system/files/warning-letters/covid-19-letter_to_frank.pdf</ref> | ||
===Seriously?=== | ===Seriously?=== | ||
But in the main, this comes down to poor policework by JP Morgan. | But in the main, this comes down to poor policework by JP Morgan. They said it themselves: “The Fake Customer List had no value as diligence information. It did not tell JMPC anything about Frank, its business, or the students who supposedly started filling out FAFSAs”. That being the case, why did they go ahead with the acquisition? How did they come up with the USD125m valuation? | ||
{{sa}} | {{sa}} | ||
*[https://www.documentcloud.org/documents/23570243-frank_suit? JP Morgan Complaint] | *[https://www.documentcloud.org/documents/23570243-frank_suit? JP Morgan Complaint] | ||
{{ref}} | {{ref}} | ||