Whom do they sue? Etherium has a foundation in Zug, Switzerland, but the DAO doesn't have a legal entity. The individuals behind the DAO could be sued as individuals, perhaps. But for what? Negligence?
In what jurisdiction do you litigate? Switzerland?
Who has standing to sue? Any investor?
The SEC might go after the DAO for selling an unregistered investment vehicle to US residents. They've done that many times with offshore firms, with varying degrees of success.
Switzerland seems like a good idea on face value. Vitalik resides there and they have a legal foundation there in control of some resources. Switzerland is a rich Western European country with a strong legal system. Don't compare it with "offshore firms".
What liabilities the Ethereum Foundation have for the DAO is far from clear, but they work close enough with it coordinate the vulnerability and make changes to the underlying software specifically to handle this case.
The creators of DAO does have a legal entity, Slock.it. They are incorporated in Germany. This is not the first cryptocurrency theft in the world.
The creators of DAO does have a legal entity, Slock.it.
It's that close a connection? That's a shame. The DAO is interesting, but the door lock business is a marginal idea. Creating the DAO just to fund the door lock business starts to look scammy.
In what jurisdiction do you litigate? Switzerland?
Who has standing to sue? Any investor?
The SEC might go after the DAO for selling an unregistered investment vehicle to US residents. They've done that many times with offshore firms, with varying degrees of success.