Solmate Infrastructure Sued by Top Outside Shareholder Over Self-Dealing Claims

Solana treasury company Solmate Infrastructure has been sued by its largest outside shareholder, which is targeting the board and management.

Odaily reported on June 23 that RBCH, an outside shareholder in Solmate, filed suit in New York State Supreme Court against the company’s current officers and directors. The complaint alleges breaches of fiduciary duty, false and misleading statements, and self-dealing. RBCH owns about 22.74% of Brera Holdings, Solmate’s parent company.

RBCH led Solmate’s $300 million PIPE investment in September 2025 and also committed to invest $50 million. The complaint alleges that the board sold shares while other investors remained subject to lockup restrictions and entered into advisory agreements that favored people tied to the board, undermining shareholder value.

The complaint also says directors Ron Sade and Keren Maimon bought about 2.298 million Class B shares at $4.97 each, diluting existing shareholders by about 20%. Plaintiffs argue the transaction amounted to an illegal self-dealing trade.

Solmate currently holds about 2 million Solana tokens, and its stock has fallen about 78% since the start of the year. Solana has dropped 50% over the same period.