According to Techub News, the Lido community voted to approve the proposal to "designate an entity to respond to lawsuits filed against Lido DAO."
Techub News previously reported that the Lido community initiated a vote on the proposal to "designate an entity to respond to a lawsuit filed against Lido DAO." On April 3, 2024, a private plaintiff filed a class action lawsuit in the U.S. District Court for the Northern District of California, naming LIDO DAO as the defendant. In the complaint, Lido DAO was accused of being a "general partnership" that "operates an Ethereum staking business," and LDO tokens or LDO token transactions were accused of being securities or securities transactions offered or sold to the public by Lido DAO in violation of securities laws. Therefore, this proposal proposes to appoint and fund Dolphin CL, LLC, a Delaware limited liability company, to hire legal counsel and appear in court as "Lido DAO" in the above case.
