NBA star Shaquille O’Neal has reached a final settlement agreement in a class-action lawsuit, agreeing to pay $11 million to settle claims brought by buyers of the Astrals non-fungible tokens (NFTs).
The settlement was approved by Florida federal court judge Federico Moreno on April 1, 2025.
It establishes a fund of up to $11 million for eligible class members, alongside $2.9 million allocated for attorney fees and costs. The class members eligible for compensation are those who purchased Astrals NFTs between May 2022 and January 15, 2023, as well as those who bought the project’s native GLXY tokens up until mid-January.
Judge Moreno’s order confirmed that the attorney fees were reviewed and deemed fair by plaintiffs.
Lawsuit Background and Allegations
The class-action lawsuit was filed in May 2023, accusing O’Neal of founding and promoting the Solana-based Astrals NFT project, which the plaintiffs claimed involved the sale of unregistered securities. The lawsuit stated that the buyers suffered financial losses due to O’Neal’s promotion of the NFTs.
In August 2023, Judge Moreno acknowledged the plaintiffs’ claims that O’Neal acted as a seller of the NFTs. O’Neal agreed to the settlement in November 2023.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/shaquille-oneal-settles-11-million-lawsuit-over-astrals-nft-project/