According to Deep Tide TechFlow news on November 19, court documents show that former NBA star Shaquille O'Neal has signed a settlement agreement related to his Astrals NFT project and Galaxy token launched in March 2022. The settlement amount will be used to pay the plaintiffs' legal fees and to compensate NFT and token purchasers.
Previously, a federal court in Florida filed a class action lawsuit against O'Neal, accusing him of promoting unregistered securities on social media. The SEC had previously made securities-related allegations against three NFT projects: Impact Theory, Stoner Cats, and Flyfish Club. The settlement agreement is still awaiting final approval from the judge.
