Crypto ‘staking’ company Lido DAO and prominent VC backers, including Andreessen Horowitz and Paradigm Operations, were hit with a securities class action on Dec. 17 in California Northern District Court. The suit, filed by Gerstein Harrow LLP and Fairmark Partners, claims that the defendants violated the registration provisions of the Securities Act through the sale of LDO tokens on crypto-asset exchanges. Counsel have not yet appeared for the defendants. The case is 3:23-cv-06492, Samuels v. Lido Dao.
This suit was surfaced by Law.com Radar, ALM’s source for immediate alerting on just filed cases in state and federal courts. Law.com Radar now offers state court coverage nationwide. Sign up today and be first to know about new suits in your region, practice area or client sector. Read the complaint here:
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