Clarence Roby Jr, a New Orleans-based lawyer, said Blue's deal with Input was backed by a phoney financial commitment letter. According to Roby, Warsaba wrote: "Input and its shareholders have suffered damages as a result of the various breaches by Bridgeway." Julian Klymochko, a merger and acquisitions specialist with Accelerate Financial Technologies, says reviewing the Input Capital/Bridgeway deal revealed several red flags. Given all the red flags, Klymochko said he still doesn't understand why Input would announce such a deal. In his email to Warsaba, he noted that Input's letter to his client was addressed to a company Francis used to own but had since shut down.

Source: CBC News January 10, 2021 09:00 UTC