JPMorgan and Fintech Founder Trade Lawsuits Over Valuation (2)

JPMorgan Chase & Co. and the majority owner of Greek payments firm Viva Wallet have sued each other in a London court over the valuation of its joint venture.

JP Morgan filed a UK claim against Werealize.com Ltd., which owns around 51% of Viva Wallet, on Wednesday morning, according to a High Court filing. The bank owns the remaining share of the Greek fintech set up by Charalampos Karonis. His firm filed a suit against the investment bank hours later.

Karonis’ firm “manufactured a dispute” about the valuation and adopted a strategy to pressurize JPMorgan into renegotiating the deal that ...