Mother of late Ondo Finance founder files lawsuit seeking to take control of the company.

Kathleen Allman, mother of late Ondo Finance founder Nathan Allman, has filed a lawsuit with the Delaware Court of Chancery, seeking to take control of the company and remove Ian De Bode from his positions as CEO and President. The complaint alleges that after Nathan Allman’s death, De Bode acted publicly in his capacity as CEO without board approval and attempted to establish control over the firm. Kathleen Allman claims that as the personal representative of Nathan Allman’s estate, she holds the company’s controlling voting rights, and intends to restructure the board of directors and remove De Bode on that basis. In response, De Bode called the allegations “unfounded,” adding that the company continues to receive support from key stakeholders, major investors, and the Ondo Foundation.