Former NBA star O'Neal reaches class action settlement with FTX investors, settlement amount not disclosed

Mars Finance News: According to documents filed on April 23 in the U.S. District Court for the Southern District of Florida, former NBA star Shaquille O'Neal has reached a class-action settlement with investors who suffered losses from the FTX collapse. The settlement amount remains confidential and is expected to be disclosed after investors formally request preliminary court approval. O'Neal is one of several celebrities sued for promoting FTX, with investors alleging that these endorsers facilitated the exchange's fraudulent activities. This lawsuit is part of multiple class-action suits involving FTX insiders, advisors, and endorsers, with investors seeking damages of up to $2.1 billion, far exceeding the $920 million available in bankruptcy proceedings. Previously, O'Neal had also reached a $11 million settlement in a class-action lawsuit related to the Astrals Non-Fungible Token project on the Solana blockchain. (Decrypt)