https://www.courtlistener.com/docket/68095676/samuels-v-lido-dao
A federal court judge ruled Lido DAO, the governing body behind the popular liquid staking protocol, can be treated as a general partnership under state law, paving the way for a potential lawsuit for the four-year-old company.
The court rejected Lido’s claim that it isn’t a legal entity, classifying it as a general partnership and setting a precedent for how profit-driven DAOs are treated.
It was also ruled that identifiable participants were managing the DAO’s operations and, therefore, could not evade liability through its decentralized structure, according to court documents filed in the U.S. Northern District Court of California.
