BlackRock Sues Bolt Financial to Block Series F, Ex-CEO’s Return

BlackRock Inc. and Hedosophia Services Ltd. affiliates sued Bolt Financial Inc. and founder Ryan Breslow, saying they’re misleading investors about a Series F financing that would return Breslow as Bolt’s CEO and funnel millions into his pockets.

The lawsuit, filed late Tuesday, says disclosures and reports about the planned transaction are confusing, convoluted, and contradictory. The court complaint seeks a temporary restraining order blocking the company from completing its “headlong rush” before investors can “fully understand what they’re being asked to approve.”

“Investors remain in the dark about the true nature of and justification for the Series F financing, ...