01:25 PM EST, 01/08/2025 (MT Newswires) -- (Updates with Viva CEO's statement in sixth and seventh paragraphs.)

JPMorgan ( JPM ) filed two additional lawsuits in connection with its investment in Greek fintech Viva Wallet, Bloomberg reported Wednesday.

A lawsuit filed in Greece, which asserts a claim of 916 million euros ($944.9 million), alleged that Viva Chief Executive Officer Haris Karonis and three other executives deprived JPMorgan ( JPM ) of the value of its 2022 investment, the report said, citing a person familiar with the matter.

A lawsuit has been filed in the UK against Werealize.com, JPMorgan's ( JPM ) joint venture partner which faces allegations of a breach of a shareholder agreement with JPMorgan ( JPM ), the person said, according Bloomberg. Karonis' Werealize.com owns around 51% of Viva, while JP Morgan owns the rest, the report said.

"We are disappointed that since the firm's investment in 2022, WRL has repeatedly and persistently sought to undermine JPM's rights by breaching the agreement that formed the basis of the firm's investment," a JPMorgan ( JPM ) spokesperson said in an emailed statement to MT Newswires.

"These actions harm not only Viva but also Greece's attractiveness for future significant investments. We now look to the courts to enforce the contract terms agreed upon between us," the spokesperson said.

Karonis criticized what he described as "the latest step in JPM's concerted effort to depreciate Viva's value, to preclude it from expanding in the United States and elsewhere, and intimidate its directors restricting their freedom of action."

Viva has achieved profitability "despite the turbulence caused by JPM," he said in a statement to MT Newswires.

Werealize.com didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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