Lido Community Votes to Approve Proposal for "Designated Entity Responds to Pending Class Action Lawsuit Against Lido DAO"
2024-07-11 08:38:04
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On July 11th, according to the Snapshot governance page, the Lido community voted to pass the "Designated Entity Responds to Pending Class Action Lawsuit Against Lido DAO" proposal. 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, listing "Lido DAO, a general partnership" as defendants. In the complaint, Lido DAO is accused of being a "general partnership operating the business of staking Ethereum," 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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