Lido DAO lawsuit
Andrew Samuels, a former LDO token holder, initiated the lawsuit after incurring losses from a decline in the token’s value.
Samuels accused Lido DAO of offering unregistered securities and violating federal securities laws. He argued that the DAO and its identifiable partners should bear responsibility for his financial losses.
Judge Chhabria supported Samuels’ claims, emphasizing that Lido DAO’s decentralized structure does not shield it from legal action.
The lawsuit named institutional investors such as Paradigm, Andreessen Horowitz (a16z), Dragonfly Digital Management, and Robot Ventures as liable partners. While Robot Ventures’ dismissal motion was accepted due to insufficient evidence, the others remain implicated.