JPMorgan (JPM) has filed two lawsuits over its investment in fintech Viva Wallet, Bloomberg’s Sotiris Nikas reports. According to a source familiar with the matter, the bank is claiming EUR 916M, or $943M in a Greek lawsuit, alleging Viva’s CEO Haris Karonis and three executives deprived the bank of the value of its 2022 investment. Additionally, JPMorgan filed a lawsuit in the U.K. against joint venture partner Werealize.com allegations it breached shareholder agreements, the source says. “In response to several legal actions already taken against JPM throughout 2024, JPM yesterday served proceedings against certain Viva’s board of directors,” Karonis told Bloomberg. “These proceedings are simply the latest step in JPM’s concerted effort to depreciate Viva’s value, to preclude it from expanding in the US and elsewhere, and intimidate its directors restricting their freedom of action.”
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