🚨 NEW: A Delaware court says Bolt must advance its former CEO’s legal fees in a lawsuit Bolt itself filed against him. Bolt sued ex-CEO Maju Kuruvilla in California over alleged misconduct and breaches of fiduciary and confidentiality obligations. Kuruvilla turned to Delaware, arguing a 2022 indemnification agreement required Bolt to fund his defense. (Justia Law⁠) The Court of Chancery sided with Kuruvilla, ruling that his advancement rights survived his 2024 separation agreement. Bolt also has to cover the legal fees Kuruvilla incurred enforcing those rights. (Justia Law⁠) So Bolt must advance the cost of suing its former CEO and the cost of his defense against Bolt’s own lawsuit. The agreement allows repayment if he is ultimately found not entitled to indemnification. (Justia Law⁠)