NBA star O'Neal to pay $11 million to reach final settlement over Astrals NFT lawsuit

According to Cryptonews, NBA star Shaquille O'Neal has agreed to pay $11 million to resolve a class action lawsuit related to his involvement in the Solana based NFT project Astrals. On April 1st, Florida federal judge Federico Moreno approved the final settlement agreement, which was made public on April 8th. The settlement agreement establishes a $11 million fund for qualified investors who purchase Astrals NFTs or acquire GLXY tokens for the project between May 2022 and January 15, 2024. The lawsuit was initially filed in May 2023, accusing Shaquille O'Neal of promoting and helping launch the Astrals NFT series, which the plaintiffs believe amounts to unregistered securities sales. They claimed to have suffered financial losses due to O'Neill's promotional activities.