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NBA legend Shaquille O'Neal plans to pay $1.8 million to settle FTX investor lawsuit.
According to Gate News bot, CNBC reported that former NBA star Shaquille O'Neal has agreed to pay $1.8 million to settle a class action lawsuit brought by FTX investors. This settlement agreement is still subject to court approval, and once approved, it will absolve O'Neal of all related legal liabilities in the future, while also prohibiting him from making claims against FTX's bankruptcy estate.
The plaintiff accuses O'Neal of promoting FTX as a safe and reliable investment channel through offline activities and social platforms, allegedly assisting in the promotion of unregistered securities. Unlike other FTX endorsers whose lawsuits have been dismissed, O'Neal remains in the case due to the complicated legal document delivery process. He stated in 2022 to CNBC that he was "just a paid advertising spokesperson."
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