Shaquille O’Neal reaches confidential settlement in FTX endorsement lawsuit

Shaquille O’Neal has reached a settlement proposed with investors who continued it for the promotion of the cryptocurrency exchange now in FTX bankruptcy.

THE The terms remain confidential Until a request for preliminary approval is filed by the complainants.

The collective appeal, filed in November 2022, alleged This participation of O’Neal in the “FTX: I is all in” campaign helped induce consumers misleading in investing in the platform, which collapsed at the end of 2022.

Complainant seek up to $ 21 billion in damages on a range of Ftx Promoters and initiates, including O’Neal.

Documents in a NBA match

The legal proceedings around the participation of the former NBA star drew attention last year when he received court documents during a eliminatory match of the television NBA at the Kaseya Center in Miami, formerly FTX Arena.

The previous efforts to serve him, including in his Texas residence and by digital means, have been rejected or disputed.

Judge K. Michael Moore, supervising the case, had previously rejected attempts at unconventional service, stressing the need for appropriate legal standards due to the complexity and financial issues of the case.

O’Neal is One of the many celebrities Appointed in the broader trial against the promoters of the FTX, while investors continue to continue the remuneration of losses linked to the failure of the platform.