Retired NBA Star Shaquille O’Neal Settles FTX Endorsement Lawsuit for Undisclosed Amount
The NBA legend Shaquille O'Neal has arranged a lawsuit that arose from his endorsement of the failed Crypto Exchange FTX.
Former professional basketball players were among the co-defendants in a case against FTX founder Sam Bankman-Fried, who is now behind the bars for incorrect approval of more than $ 8 billion in customer funds that led to the collapse of the exchange.
A class action complaint filed by Oklahoma resident Edwin Garrison in 2022 accused celebrities and athletes who promoted FTX to engage in fraudulent skills and failing to carry out appropriate diligence before promoting the now-defunct trading platform.
Other defendants named 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, whose documents in court indicate that they received nearly $ 750,000 for FTX endorsement, is now close to resolving the case.
In a joint notice of the regulating agreement filed on April 23, the advice that represents O'Neal and the plaintiff informs the US district court, Southern District of Florida, whose two parties are in agreement with a great resolution of the suit.
The File The value of the negotiation does not reveal, and the agreement is still subject to the court's approval.
“In accordance with the class settlement agreement with the parties conducted on April 1, 2025, the terms of the agreement will remain confidential until the plaintiffs file a motion seeking the initial approval of the settlement.”
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