Shaquille O’Neal Faces Another Lawsuit Relating To FTX And Astral NFT

Former NBA star Shaquille O’Neal has been served with a class-action lawsuit over his promotion of the controversial FTX.

It is known that Shaquille O’Neal was one of the many celebrities who were alleged to have endorsed FTX, an exchange that has recently filed for bankruptcy. Now, a new lawsuit has been served as he allegedly founded and promoted a Solana-based NFT project called Astrals which the lawsuit claims are an “unregistered security”.

On Tuesday, process servers surprisingly reached and served O’Neal at the Miami Sports Stadium (formerly known as FTX stadium) while commentating on an NBA playoff game. Adam Moskowitz, the lawyer who filed both lawsuits said that the former NBA player was served both the FTX class-action lawsuit and a new separate class-action suit regarding his alleged promotion of the Astrals project. 

A previous claim from Shaq’s legal team states that the process servers for the FTX lawsuit “tossed” the papers in front of his moving car which his lawyers argued to be “inadequate”. According to Shaquille’s lawyers, a ‘lawsuit’ is only deemed served through “following state law and serving a summons.” Additionally, the suit was served in the state of Georgia and wasn’t made by an authorized person.

Despite loads of lawsuits, Shaq continues to work and distance himself from the issues and stating that he was “just a paid spokesperson”. During TNT’s “Inside the NBA”, O’Neal jokingly thanked Curry for putting him in trouble. Although it was unclear if it pertained to the FTX lawsuit.

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Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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