Shaquille O'Neal minted, promoted, and sold his own NFT to serve as his avatar in the Astral ecosystem. Credit: Photo from court documentsShaq Signs $11 Million Settlement to Resolve Astrals Investor Claims
“So much credit goes to Shaq personally for wanting to help all of the other victims, and to our federal judges," said Adam Moskowitz, the managing partner at the Moskowitz Law Firm.
November 18, 2024 at 08:09 PM
5 minute read
What You Need to Know
- Shaquille O'Neal agreed to an $11 million settlement for his role in the Astrals Project.
- The Astrals settlement will resolve all of the claims in the class action litigation before the Southern District of Florida.
- In addition, the basketball legend settled with the FTX estate to resolve all claims against him.
A filing on Monday evening revealed that ex-NBA star player Shaquille O'Neal has agreed to create an eight-figure class action settlement fund for injured investors in the Astrals Project non-fungible tokens and GLXY tokens, which aimed to promote investment in a virtual world. He has also resolved all claims against him in the FTX multidistrict litigation. Both settlements are pending judicial approval.
Adam Moskowitz, the managing partner at the Moskowitz Law Firm in Coconut Grove, Florida, is the lead attorney for the proposed class of investors in their lawsuit against the defendants, O'Neal, Astrals LLC and the company's various subsidiaries. Moskowitz is joined by his partner Joseph M. Kaye and Jose M. Ferrer and Desiree Fernandez of Mark Migdal Hayden in Miami.
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