Former NBA star Shaquille O'Neal signs $11 million Astral NFT and Galaxy token lawsuit settlement agreement
ChainCatcher news, according to DLNews, former NBA star Shaquille O'Neal has signed an $11 million settlement agreement regarding the Astral NFT and Galaxy token lawsuit, covering the plaintiffs' attorney fees as well as cash payments to NFT and token purchasers. The settlement agreement is currently pending approval from the judge.
Previously, O'Neal was sued for promoting cryptocurrency, with a class action filed in federal court in Florida accusing O'Neal of promoting the unregistered Astral token in violation of securities laws.
The lawsuit claims that O'Neal repeatedly promoted the Astrals NFT on his various social media accounts, but the value of the related tokens and NFTs subsequently experienced a "sharp decline."
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