In what appears to be an issue of first impression, a California district court ruled that various defendants allegedly holding governance tokens to the bZx DAO (or “Decentralized.
Ruling on an issue of first impression, the instant case offers the first court decision treating a DAO as a general partnership and ruling that anyone holding the appropriate DAO governance token at the relevant time could be liable in Sarcuni v. bZx DAO.
A March 27, 2023, decision by a California federal court in a putative class action, Sarcuni v. bZx DAO, has brought into focus how courts might construe the legal existence of.