N/A.US
id: 1409
Shaquille O’Neal $11M Investor Settlement
Late claims are being considered for compensation, subject to approval.
$11,000,000
Cash SettlementS.D. Florida
Court1:23-cv-21912
Case number03/10/2022
Class period Start05/23/2023
Class period End04/17/2025
Claim deadlineShaquille O’Neal has agreed to settle $11M with investors to resolve claims that he failed to disclose Astrals NFT and token sales were unregistered securities.
Outline
In 2022, Shaquille O’Neal was accused of misleading investors by promoting Astrals NFTs and GLXY tokens as a revolutionary metaverse investment. Following the collapse of FTX in November 2022, the project’s reputation declined, and token sales dropped. In 2023, investors accused the project of operating as unregistered securities, and O’Neal faced a lawsuit.
Timeline
- March 2022 – Astrals NFTs and GLXY tokens launched, with Shaquille O’Neal promoting the project as a metaverse breakthrough.
- November 2022 – FTX collapsed, damaging Astrals' reputation due to its association with the exchange, leading to a decline in token sales.
- April 2023 – Investors filed a lawsuit against O’Neal, claiming that Astrals NFTs and GLXY tokens were marketed as digital collectibles but functioned as unregistered securities.
- November 2024 – O’Neal agreed to settle to resolve investor claims.
Background
In March 2022, Shaquille O’Neal co-founded and promoted the Astrals NFT and GLXY token project, presenting himself as the "Astrals Chief Astronaut" and emphasizing substantial returns through blockchain assets. Investors bought into the project, expecting strong financial gains.
However, following the collapse of FTX in November 2022, the project's reputation declined, and token sales slowed significantly.
By February 2023, investors accused the project of misleading them by marketing Astrals NFTs and GLXY tokens as high-return investments while failing to register them as securities.
Following this, in April 2023, Shaquille O’Neal was sued by investors for hiding that Astrals NFTs and GLXY tokens were unregistered securities and that the project misrepresented its viability, leading to significant financial losses.
What Can Investors Expect Now?
Shaquille O’Neal has agreed to settle $11M with investors to resolve claims that he failed to disclose Astrals NFT and token sales were unregistered securities.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Case Status
Accepting Late Claims
Alleged Offence
Misleading Statements,
Failure to Disclose,
Price manipulation
Suspected Party
Directors,
Management,
Influencer
Security Type
Crypto Asset
Trade Direction
Long
Filing date
05/23/2023
Plaintiffs
DANIEL HARPER
Attorneys
Mark Migdal Hayden LLP; The Moskowitz Law Firm, PLLC
Defendants
SHAQUILLE O’NEAL
Judge
Federico A. Moreno
Administrator
Strategic Claims Services
Settlement agreement date
2024-11-18
Court hearing date
04/01/2025
Exclusion deadline
03/03/2025
Objection deadline
03/03/2025
Attorney fee
$2,910,000
Trades matching type
FIFO
Frequently Asked Questions
Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
What is 11th Estate?