The Northern District Court of California dismissed Lido DAO's claim that it is not a legal entity and held the organization accountable for legal actions. The lawsuit was filed by former LDO token holder Andrew Samuels, who accuses Lido DAO of violating securities laws. The court noted that centralized governance in the DAO and the involvement of major investors like Paradigm and a16z could lead to legal liability. Samuels is seeking compensation for losses and jury trial.
11/19/2024 12:30:54 PM (GMT+1)
The court rejected Lido DAO's legal status claim, holding the organization accountable for legal actions in the LDO token holder lawsuit 🏛️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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