Policy, Shaq, FTX, News The go well with named a number of different movie star promoters, together with baseball participant Shohei Otani, comic Larry David, and mannequin Gisele Bundchen. 

Shaquille O’Neal has reached a settlement settlement with a bunch of FTX traders who accused him of enabling the failed crypto alternate’s fraud by appearing as a star promoter, in keeping with a court docket submitting.

Details of the settlement settlement, together with the quantity O’Neal can pay, haven’t but been disclosed. Plaintiffs within the case are looking for as much as $21 billion in complete damages from O’Neal and different promoters, former executives and different insiders.

The former basketball star-turned-business mogul was simply one in every of a number of movie star promoters named within the class motion go well with. Other athletes, together with tennis participant Naomi Osaka, baseball participant Shohei Otani, basketball participant Steph Curry and retired soccer participant Tom Brady had been additionally named as defendants, together with comic Larry David, Shark Tank star Kevin O’Leary, and mannequin Gisele Bundchen.

Though O’Neal is the primary big-name defendant within the case to choose Wednesday, seven different movie star promoters and former executives reached a settlement settlement with the traders again in 2023, together with Jaguars quarterback Trevor Lawrence, and Youtubers Tom Nash, Graham Stephan and Andrei Jikh. The first tranche of settlements had been comparatively small, totalling a collective $1.4 million.

O’Neal’s settlement with FTX traders isn’t his first tied to a promotion of a failed crypto undertaking. Last yr, O’Neal and several other of his associates agreed to pay $11 million to Astral non-fungible token (NFT) holders who misplaced cash within the Solana-based undertaking he based and promoted.

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