Forever 21 parent Authentic Brands sues payment startup Bolt
Bolt Financial Inc., the payments firm best known for its founder’s inflammatory Twitter threads accusing Silicon Valley of being governed by “mob bosses,” is being sued by one of its most well-known clients. Authentic Brands Group claims that Bolt not only failed to deliver promised technologies, but also that the clothing retailer lost more than $150 million in online sales as a result of Bolt’s integration with Forever 21. According to the complaint, Bolt sought money at increasingly high valuations by “consistently overstating” the scope of its integration with ABG’s…