Shaquille O’Neal Agrees to a $1.8 Million Settlement in FTX Class-Action Lawsuit
- Shaquille O’Neal settled for $1.8 million over allegations he misled investors by promoting FTX, including via his festival Shaq’s Fun House
- Unlike other celebrity endorsers such as Tom Brady and Gisele Bündchen, Shaq remained entangled in the case after months of dodging legal service
- The deal ends his involvement without admitting wrongdoing and bars him from reclaiming funds from the FTX estate
As the FTX saga continues, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a lengthy class-action lawsuit over allegations that he promoted the now-defunct cryptocurrency exchange, according to a recent report. The retired basketball star faced accusations of misleading investors via different avenues.
Specifically, these included social media promotions and event sponsorships, some via his branded festival, Shaq’s Fun House, which was sponsored by FTX. The crypto exchange later collapsed and its founder/CEO, Sam Bankman-Fried, was convicted of fraud and money laundering charges.
A Months-Long Effort to Serve O’Neal with Legal Papers
Other celebrity defendants who endorsed FTX, including Tom Brady, Gisele Bündchen, and …
The post Shaquille O’Neal Agrees to a $1.8 Million Settlement in FTX Class-Action Lawsuit appeared first on Coin Edition.
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Shaquille O’Neal Agrees to a $1.8 Million Settlement in FTX Class-Action Lawsuit
- Shaquille O’Neal settled for $1.8 million over allegations he misled investors by promoting FTX, including via his festival Shaq’s Fun House
- Unlike other celebrity endorsers such as Tom Brady and Gisele Bündchen, Shaq remained entangled in the case after months of dodging legal service
- The deal ends his involvement without admitting wrongdoing and bars him from reclaiming funds from the FTX estate
As the FTX saga continues, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a lengthy class-action lawsuit over allegations that he promoted the now-defunct cryptocurrency exchange, according to a recent report. The retired basketball star faced accusations of misleading investors via different avenues.
Specifically, these included social media promotions and event sponsorships, some via his branded festival, Shaq’s Fun House, which was sponsored by FTX. The crypto exchange later collapsed and its founder/CEO, Sam Bankman-Fried, was convicted of fraud and money laundering charges.
A Months-Long Effort to Serve O’Neal with Legal Papers
Other celebrity defendants who endorsed FTX, including Tom Brady, Gisele Bündchen, and …
The post Shaquille O’Neal Agrees to a $1.8 Million Settlement in FTX Class-Action Lawsuit appeared first on Coin Edition.
Read More