According to the latest report from BlockBeats, on July 6, the Lido community launched an important proposal vote on its Snapshot governance platform, entitled "Regarding the authorization of a specific entity to handle the pending class action response against Lido DAO". This action is a direct response to a class action lawsuit filed by a private plaintiff in the United States District Court for the Northern District of California, which regards Lido DAO as a "general partnership operating Ethereum staking services" and accuses LDO tokens and their transactions of constituting securities or securities transactions.
Given that the court has formally confirmed that the procedure for serving legal documents on Lido DAO through public channels is legal and ordered Lido DAO to submit an official response within 14 days, this proposal aims to authorize and fund Dolphin CL, LLC, a limited liability company located in Delaware, to entrust its legal team to draft, submit and represent the motion to dismiss all relevant claims against Lido DAO.
In order to effectively respond to this legal challenge, the proposal requests the community to approve a grant of 200,000 DAI as legal fees to ensure that Dolphin CL, LLC can fully prepare and represent Lido DAO in court to defend its rights. This move reflects the Lido community's emphasis on legal compliance and its determination to protect the interests of community members.
