BlackRock Wins Court Order Halting Bolt Financial’s Series F

BlackRock Inc. and Hedosophia Services Ltd. affiliates prevailed Wednesday in their bid to temporarily block a Series F financing that would return Bolt Financial Inc. founder Ryan Breslow as CEO and allegedly funnel millions into his pockets.

A judge issued a 10-business-day temporary restraining order against the transaction, agreeing at an emergency hearing to fast-track the lawsuit the investment firms filed in Delaware’s Chancery Court the previous evening. Tuesday’s court complaint said investors were being kept in the dark about the deal’s details, calling the company’s disclosures about it confusing, convoluted, and contradictory.

The main purpose of the financing round ...