Court documents show that former NBA star Shaquille O'Neal has signed a settlement agreement involving his Astrals NFT project and Galaxy tokens launched in March 2022. The settlement amount will be used to pay the plaintiff's attorney fees and compensation to NFT and token buyers. The company behind Astrals is also part of the settlement agreement, and $11 million will cover the plaintiff's attorney fees and cash payments to NFT and token buyers. 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 has previously filed securities-related charges against three NFT projects, including Impact Theory, Stoner Cats and Flyfish Club. The settlement agreement is currently awaiting final approval by the judge.
