Shaquille – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sat, 14 Jun 2025 10:46:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Shaquille – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Shaquille O’Neal Strikes Deal in FTX Case, Pays $1.8 Million https://earlybirdsinvest.com/shaquille-oneal-strikes-deal-in-ftx-case-pays-1-8-million/ https://earlybirdsinvest.com/shaquille-oneal-strikes-deal-in-ftx-case-pays-1-8-million/#respond Sat, 14 Jun 2025 10:46:39 +0000 https://earlybirdsinvest.com/shaquille-oneal-strikes-deal-in-ftx-case-pays-1-8-million/

An American former professional basketball player, Shaquille O’Neal, has reached a $1.8 million settlement to resolve claims that he promoted FTX, the now-defunct crypto exchange.

The money will be used to cover legal costs, administrative fees, and repayments to people who used the platform or held its token, FTT, between May 2019 and the end of 2022.

The deal still needs approval from a federal court in Florida. If approved, the case will be officially closed. O’Neal will also be protected from any future legal action related to this matter and will not be able to claim money from FTX’s bankruptcy process.

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This lawsuit claimed that O’Neal played an active role in encouraging people to invest in FTX, which has been accused of offering unregistered securities. He once appeared in a commercial saying he was “all in” on FTX, but later admitted he did not fully understand crypto.

Previously, O’Neal made headlines for avoiding legal documents. Lawyers from the Moskowitz Law Firm said they had to wait outside the TNT studios in Atlanta just to hand him the complaint. Court records indicated that he was paid around $750,000 for his promotional work with the exchange.

O’Neal’s legal team told CNBC they were happy to have resolved the matter.

Recently, a federal judge dismissed most of the legal claims against several celebrities who promoted FTX, including Tom Brady, Kevin O’Leary, and Stephen Curry. What led to the decision? Read the full story.

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]]> https://earlybirdsinvest.com/shaquille-oneal-strikes-deal-in-ftx-case-pays-1-8-million/feed/ 0 41965 Retired NBA Star Shaquille O’Neal Settles FTX Endorsement Lawsuit for Undisclosed Amount https://earlybirdsinvest.com/retired-nba-star-shaquille-oneal-settles-ftx-endorsement-lawsuit-for-undisclosed-amount/ https://earlybirdsinvest.com/retired-nba-star-shaquille-oneal-settles-ftx-endorsement-lawsuit-for-undisclosed-amount/#respond Fri, 25 Apr 2025 21:18:01 +0000 https://earlybirdsinvest.com/retired-nba-star-shaquille-oneal-settles-ftx-endorsement-lawsuit-for-undisclosed-amount/

NBA legend Shaquille O’Neal has settled a lawsuit that arose from his endorsement of the failed crypto exchange FTX.

The former professional basketball player is among the co-defendants in a case against FTX founder Sam Bankman-Fried, who is now behind bars for misappropriating over $8 billion in customer funds that led to the collapse of the exchange.

The class action complaint filed by Oklahoma resident Edwin Garrison in 2022 accused the celebrities and athletes who promoted FTX of engaging in deceptive practices and failing to perform due diligence prior to promoting the now-defunct trading platform.

The other defendants named in the case also include retired NFL quarterback Tom Brady and his ex-wife, model Gisele Bündchen, NBA player Stephen Curry, MLB pitcher Shohei Ohtani, NFL quarterback Trevor Lawrence and Shark Tank star and investor Kevin O’Leary.

O’Neal, who court documents indicate received nearly $750,000 for endorsing FTX, is now close to resolving the case.

In a joint notice of settlement agreement filed on April 23rd, the counsels representing O’Neal and the plaintiffs inform the U.S. District Court, Southern District of Florida, that the two parties have agreed to an amicable resolution of the suit.

The filing did not disclose the settlement amount, and the agreement is still subject to court approval.

“Pursuant to the Class-Action Settlement Agreement the Parties executed on April 1, 2025, the terms of the agreement will remain confidential until Plaintiffs file a motion seeking preliminary approval of the settlement.”

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