NBA star O'Neal to pay $1.8 million to settle FTX investor lawsuit
2025-06-12 02:00
According to CNBC, NBA legend Shaquille O'Neal has agreed to pay $1.8 million to settle the FTX investor class action lawsuit. The settlement agreement is still pending court approval and will exempt him from all future legal liabilities and prohibit him from pursuing recovery from FTX's bankruptcy estate. The lawsuit accuses O'Neill of promoting FTX as a safe and reliable investment platform through live events and social media, and is suspected of helping to promote unregistered securities. Unlike other FTX spokespersons who have been dismissed from lawsuits, O'Neal continues to be involved in the case due to the complex process of serving legal documents. He told CNBC in 2022 that he was just a paid advertising spokesperson.