Solmate's Largest Outside Shareholder, RBCH, Sues Board for Breach of Fiduciary Duty

RBCH, the largest external shareholder of Solmate Infrastructure (SLMT), a digital assets treasury company for Solana, has sued the company’s current executives and directors in the New York State Supreme Court, alleging breaches of fiduciary duty, misleading statements, and self-dealing. RBCH holds approximately 22.74% of Brera Holdings, Solmate’s parent company, and led a $300 million PIPE financing for Solmate in September 2025, committing to invest $50 million. The lawsuit claims the board engaged in actions detrimental to shareholders, including selling shares during a lock-up period, entering into advisory agreements favoring related parties, and directors Ron Sade and Keren Maimon personally purchasing approximately 2.298 million Class B shares at $4.97 per share, resulting in a roughly 20% dilution of shareholders. Solmate currently holds approximately 2 million SOL on its balance sheet; its stock has declined about 78% year-to-date, while SOL has fallen approximately 50% over the same period.