Former NBA Star Shaquille O'Neal Agrees to Pay $11 Million to Settle NFT Lawsuit

【Former NBA Star Shaquille O'Neal Agrees to Pay $11 Million to Settle NFT Lawsuit】Golden Finance reports that court documents show 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 plaintiffs' legal fees and to compensate the 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 brought securities-related charges against three NFT projects, including Impact Theory, Stoner Cats, and Flyfish Club. The settlement agreement is currently pending final approval from the judge.