- JP Morgan has filed a lawsuit against WeRealize, the majority shareholder in Greek fintech firm Viva Wallet, alleging that the holding company has taken actions to limit or circumvent JP Morgan’s contractual and legal rights as an investor in Viva Wallet.
- JP Morgan first acquired a 48.5% stake in Viva Wallet in December 2022, with WeRealize retaining the remaining share.
- Tensions have reportedly risen between the two companies, leading to legal action.
- WeRealize has counteracted by filing its lawsuit, accusing JP Morgan of limiting Viva Wallet’s growth and attempting to lower the company’s value.
- The terms of JP Morgan’s acquisition deal state that the bank is allowed to take full control of Viva Wallet if its valuation drops below €5 billion by June 2025.
- Viva Wallet has responded, stating that it is not involved in any legal process with its shareholders and continues its growth path.
