News & Analysis as of

Joint and Several Liability Blockchain

Venable LLP

DAO or Dare: The Implications of Sarcuni v. bZx DAO for DAO Member Liability

Venable LLP on

The blockchain community has debated for years whether Decentralized Autonomous Organizations (DAOs) can or should be analogized to a corporate form and whether they operate to insulate DAO members from legal liabilities....more

Skadden, Arps, Slate, Meagher & Flom LLP

Putative Class Action Lawsuit Alleges DAO Members Are Jointly and Severally Liable for a Cryptocurrency Hack

A first-of-its-kind putative class action lawsuit filed in the Southern District of California is testing the legal argument that a decentralized autonomous organization (DAO) is a general partnership exposing its members to...more

Eversheds Sutherland (US) LLP

DAO members may be jointly and severally liable for $55 million crypto theft

On May 2, 2022, a putative class action was filed against a decentralized autonomous organization (DAO) and its members seeking to recover $55 million in cryptocurrency losses stolen during a hack into the DAO’s decentralized...more

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