Shaquille O’Neal is served AGAIN… NBA legend now faces lawsuit over an NFT company he co-founded with his son, Myles, after being sued along with Tom Brady for endorsing bankrupt FTX
- Shaquille O’Neal finally got the FTX class action lawsuit last month
- The second complaint concerns allegations of ‘violating federal security laws’
- DailyMail.com provides all the latest international sports news
Shaquille O’Neal received two different complaints while working for TNT during Tuesday night’s Eastern Conference Finals in Miami.
O’Neal, according to plaintiff’s attorney, Adam Moskowitz, was served with respect to a complaint related to an NFT company founded by he and son, Myles.
It is alleged that O’Neal “violated federal security laws” in doing so, with the NFTS “unregistered securities” at his company, ASTRALS.
The NBA legend also received a copy of the FTX case, which was finally served on him last month. Both cases are currently before Miami Federal Court.
“It seems absurd to have to go to such lengths to serve Mr. O’Neal, who is deputy of the law,” said Moskowitz, who represented the investors of FTX and ASTRALS.
O’Neal filed a new lawsuit regarding an NFT company he co-founded, according to the prosecution’s attorney, while working for TNT and covering the NBA’s Eastern Conference Finals
The NBA legend was a “paid spokesperson” for the now bankrupt cryptocurrency exchange
“These claims are now very serious and so it’s good that we can start with the merits, rather than the silly service sideshow that Mr. O’Neal unfortunately made.”
O’Neal also faces a class action lawsuit involving high-profile FTX endorsers, including Tom Brady, Gisele Bundchen, Steph Curry and Larry David.
The lawsuit was filed last November by Edwin Garrison, who claims he opened an account with the now-bankrupt crypto exchange after being “exposed to” celebrity endorsement and their alleged “misrepresentations and omissions.”
Moskowitz also accused O’Neal of being deceitful an FTX commercialso that he could make “millions of dollars.”
O’Neal hosted a Super Bowl party at Shaq’s Fun House in partnership with FTX in February 2022 ahead of Super Bowl LVI in Los Angeles.
FTX was a high-profile cryptocurrency exchange that made a major breakthrough among investors thanks to celebrity backing. It filed for bankruptcy on November 11.
The following month, O’Neal said CNBC he was just a “paid spokesperson.”
“A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” O’Neal said.
Retired QB Tom Brady and ex-wife Gisele Bundchen both promoted FTX during their marriage
FTX founder Sam Bankman-Fried on stage with Gisele Bundchen at a 2022 conference
In September 2021, speaking about cryptocurrency for CNBC Make It, O’Neal commented, “I don’t understand it, so I’ll probably stay away from it until I fully understand what it is…From my experience, it’s too good to be true.’
Other defendants named in the lawsuit include tennis player Naomi Osaka, Miami Heat’s Udonis Haslem, former MLB star David Ortiz, LA Angels pitcher Shohei Ohtani, Jacksonville Jaguars quarterback Trevor Lawrence, comedian Larry David, entrepreneur Kevin O’Leary and FTX founder Sam Bankman. -Fried.
The lawsuit argues that the exchange’s interest-bearing bills were technically a security, requiring the underwriters to publish the details of their fees from FTX.
“They never disclosed the nature, size and amount of compensation they personally received in exchange for the promotion,” the suit alleges.