Ondo Founder's mother seeks to remove CEO in Delaware
2026-08-07 13:28:44
According to CoinMeta, Ondo Finance is facing a battle for control of the company. The mother of the late founder Nathan Allman, Kathleen Allman, has filed a lawsuit in Delaware to remove the current CEO Ian, de, and Bode and to claim control of the company. The lawsuit was submitted to the Delaware Court of Chancery on July 24, about two months after Ondo announced the death of Allman and stated that de and Bode would take over CEO. At the heart of the dispute is who legally controls Ondo after the death of Allman. Kathleen Allman believes that as the personal representative of her son's estate, she has control over his voting rights and therefore has the authority to restructure the board of directors. de and Bode reject these claims, calling them "baseless" and stating that the current leadership still has the support of key stakeholders. Now, the court must decide which party has legal authority over the board of directors and executive leadership of Ondo.
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Source:Cryptonews
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