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Shaquille O’Neal Settling FTX Class Action Lawsuit for $1.8M
- Former NBA star Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class action lawsuit accusing him of promoting the now-defunct cryptocurrency exchange FTX.
- The lawsuit, filed in November 2022, claims O'Neal and other celebrities misled investors by touting FTX as a trustworthy investment before its collapse and bankruptcy.
- FTX was once the third-largest cryptocurrency exchange but suffered billions in losses and bankruptcy amid investigation into unauthorized use of customer funds.
- A recent court filing in the U.S. District Court of Florida disclosed that O'Neal's $1.8 million payment is final, covers legal fees and payouts, and will be made within 30 days of settlement approval.
- The settlement would end O'Neal's legal exposure related to FTX while the case highlights the ongoing legal reckoning over high-profile endorsements of failed crypto ventures.
65 Articles
65 Articles
Shaquille O’Neal to Pay $1.8M in Settlement Over FTX Promotion Lawsuit
NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle a class-action lawsuit brought by investors in the collapsed crypto exchange FTX, according to several media reports this week.The investors allege that O’Neal misled them by appearing in ads for the collapsed cryptocurrency exchange. The payout is about $1 million more than the $750,000 O’Neal was reportedly paid for his role in an FTX commercial.The former basketball star was…
O'Neal to pay $1.8M to settle crypto exchange FTX class lawsuit
FLORIDA, United States — Former NBA player Shaquille O’Neal will pay $1.8 million to settle a class action lawsuit related to the demise of cryptocurrency exchange FTX. O’Neal, and other celebrities like Tom Brady and Stephen Curry, were named in the lawsuit in 2022. They had been accused of touting FTX as a reputable and
Shaquille O’Neal settling FTX class action lawsuit for $1.8M
NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle a class action lawsuit over his promotion of the now-defunct crypto exchange FTX. The proposed settlement agreement would resolve the case against the former basketball player, who was one of several celebrities and notable figures sued in the wake of FTX’s collapse. “The…
Shaquille O’Neal must pay $1.8 million to end a years-long class action lawsuit after FTX investors accused him of duping them
Former NBA player Shaquille O’Neal will pay $1.8 million to settle a class action lawsuit related to the demise of cryptocurrency exchange FTX. O’Neal, and other celebrities like Tom Brady and Stephen Curry, were named in the lawsuit in 2022. They had been accused of touting FTX as a reputable and trustworthy investment option via paid endorsements. The proposed settlement only pertains to O’Neal. Three years ago FTX was the third-largest crypto…
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