Mother of Deceased Ondo Finance Founder Sues for Control Over RWA Project
The mother of Nathan Allman, the late founder of Ondo Finance, has filed a lawsuit in Delaware seeking to wrest control of the real-world asset project. Allman, who died in May at age 32, was the CEO, sole director, and majority shareholder.
Nathan Allman, founder of the real-world asset protocol Ondo Finance, died at the end of May at the age of 32. At the time of his death, he served as the company’s CEO, its sole director, and he held a majority shareholding. His passing effectively halted the company’s management.
In response, Allman’s mother has taken legal action in a Delaware court, seeking to be granted control over the RWA project. According to the lawsuit, during this leadership void, Ondo’s president Ian De Bode declared himself the new CEO and sole director of the company.
The dispute over governance adds a layer of complexity for Ondo Finance, which is known for issuing tokenized yields on traditional assets.
Source: ForkLog