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Solmate's Largest Shareholder RBCH Sues Board for Fiduciary Breaches, Self-Dealing on June 22

GateNews
Stocks
According to The Block, on June 22, RBCH, the largest outside shareholder of Solmate Infrastructure (Nasdaq: SLMT) with a 22.74% stake in its parent company Brera Holdings, filed a lawsuit in New York Supreme Court accusing the board of fiduciary duty breaches and self-dealing. RBCH led Solmate's $300 million PIPE transaction in September 2025 with a $50 million commitment. The lawsuit alleges that board members used investor capital for undisclosed transactions and enriched themselves through a strategic advisor agreement granting warrants equal to 10.7% of equity plus ongoing 0.85% annual fees. Solmate shares have declined 78% year-to-date and trade at a 50% discount to net asset value. RBCH is seeking disgorgement of improper board compensation and the rescission of a registered direct offering that issued 2.298 million Class B shares to board members Sade and Maimon at $4.97 per share, diluting existing shareholders by approximately 20%.
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