According to Crypto.news from Foresight News, federal judge Federico Moreno in Florida approved a settlement agreement for NBA star Shaquille O'Neal, who will pay $11 million to resolve a class-action lawsuit related to his involvement in the Solana-based Non-Fungible Token project Astrals. The settlement establishes an $11 million fund for eligible investors who purchased Astrals Non-Fungible Tokens or obtained GLXY tokens between May 2022 and January 15, 2024.
The lawsuit was initially filed in May 2023, alleging that Shaquille O'Neal promoted and helped launch the Astrals Non-Fungible Token series, with plaintiffs claiming this amounted to an unregistered securities sale. They asserted that they suffered financial losses due to O'Neal's promotional activities.
