Ryan Breslow, who dropped out of Stanford University to found Bolt, has been involved in several lawsuits over the past few years.of payments unicorn Bolt, has proposed a settlement with aggrieved investor Activant Capital, signaling the end of a fractious lawsuit in which Breslow was accused of saddling the company with $30 million in personal debt and removing the board members who had pushed him to repay it.
Got a tip for us? Contact reporters Sarah Emerson at semerson@forbes.com or 510-473-8820 on Signal, and Iain Martin at iain.martin@forbes.com. According to a settlement plan filed this week by Activant, Breslow and three current and former board members, Bolt will cancel 13,397,270 common shares previously owned by Breslow, which amount to $37,378,383. These same shares were already retitled to Bolt as part of a tender offer in January and were valued at $2.79, a higher price than those of investors and employees , aspreviously reported.