TechFlow news, April 9 — According to CryptoNews, NBA star Shaquille O'Neal has agreed to pay $11 million to settle a class-action lawsuit related to the Astrals NFT. U.S. District Judge Federico Moreno of Florida approved the final settlement on April 1, and the order was made public on April 8.
The settlement establishes an $11 million compensation fund for eligible investors who purchased Astrals NFTs or obtained the project's GLXY tokens between May 2022 and January 15, 2024. The court also approved $2.9 million in legal fees.
The lawsuit, filed in May 2023, alleged that O'Neal promoted and helped launch the Astrals NFT collection, which plaintiffs claimed constituted the sale of unregistered securities.
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