Lido Community Initiates "Designated Entity Response to Pending Class Action Lawsuit Against Lido DAO" Proposal Vote
2024-07-06 11:33:24
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On July 6th, according to the Snapshot governance page, the Lido community initiated a "Designated Entity Responds to Pending Class Action Lawsuit Against Lido DAO" proposal vote. According to the proposal, a private plaintiff filed a class action lawsuit numbered 3:23-cv-06492 in the U.S. District Court for the Northern District of California, naming "LIDO DAO, a general partnership" as defendants. In the complaint, Lido DAO is accused of being a "general partnership operating the Ethereum pledge business," and the LDO tokens or LDO token transactions are accused of being securities or securities transactions, and Lido DAO is accused of offering or selling these securities to the public in violation of securities laws.
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