Through Cedric ‘Big Ced’ Thornton
June 13, 2025
Investors in the cryptocurrency company have sued the former basketball player for his role in endorsing the platform
NBA Hall of Famer Shaquille O’Neal has agreed to arrange a lawsuit against him for his involvement in the now -emphasized cryptocurrency company FTX.
According to FortuneThe retired legend of Los Angeles Lakers has organized The suit for $ 1.8 million for his role in promoting the failed company.
The company went bankrupt in 2022 after founder Sam Bankman-Fried was accused of investing money in companies without the approval of investors. For his role in the company that lost billions of dollars, he was sentenced to 25 years in prison in March 2024.
Investors have sued SHAQ and other famous investors such as former NFL Quarterback Tom Brady, NBA -Superster Stephen Curry and tennis phenomenon Naomi Osaka, among others who endorsed the platform.
After a accused, Shaq stated He was only a celebrity that was used for an advertisement.
“I have nothing to hide. If I were heavily involved, I would be paramount and say: ‘Hey. “But I was just a paid spokesperson,” said Shaquille O’Neal in December 2022.
The settlement took place in April, but was not published until the agreement was announced in an application to the US court, Southern District of Florida, Miami Division, earlier this week. The settlement must be approved by the court before it can be completed. The Agreement would enable SHAQ to be held liable for future claims and also includes a provision that the TNT analyst cannot request reimbursement of the FTX estate.
After the courts have approved the settlement, the payment is made within 30 days.
The settlement only covers the involvement of Shaq, because the other celebrities are not included in the agreement. No details have been released with regard to settlements, if present from the other clients mentioned in the court case.
Shaq has admitted that he has no mistakes with regard to his role as a paid spokesperson for FTX.
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