Basketball legend Shaquille O’Neal finds himself in legal trouble again. During Game 4 of the NBA Eastern Conference Finals, O’Neal was presented with legal documents regarding an FTX class action lawsuit at the Kaseya Center in Miami. This marks the latest development in the legal battle surrounding the former FTX spokesperson.
Last month, O’Neal claimed that a process server used unorthodox methods, throwing paper at his moving vehicle and failing to serve him legally. However, the process server is trying hard to submit papers this time. By buying tickets to the Miami Heat vs. Boston Celtics server took the opportunity to approach O’Neal as he provided commentary from a platform in the arena.
Not only has O’Neal been handed paperwork regarding the FTX case, but he’s also been faced with a new lawsuit regarding the Astral Project, an NFT venture involving 3-D avatars. Attorneys for Adam Moskowitz, representing investors FTX, filed a new lawsuit in Florida district court, alleging that O’Neal violated securities laws by selling unregistered securities. In response, O’Neal reportedly kicked the process server out of the arena.
The FTX lawsuit implicates O’Neal, along with several other celebrities and sports teams, for their role in promoting the now bankrupt crypto exchange. O’Neal’s initial support for FTX was so significant that the company even gave him the nickname “Shaqtoshi”, which parallels Bitcoin’s creator under the pseudonym, Satoshi Nakamoto.
Nevertheless, O’Neal has distanced himself from FTX since the company’s collapse. He clarified that his involvement was limited to being a paid spokesperson for an advertisement, disclaiming himself from any responsibility for the company’s demise.
Meanwhile, former FTX CEO Sam Bankman-Fried pleaded not guilty to criminal fraud charges, while three other executives from the company pleaded guilty in federal court. The ongoing legal battle surrounding FTX continues to unfold, casting a shadow over the cryptocurrency industry and the individuals who have been involved.
Shaquille O’Neal’s involvement in the FTX class action lawsuit takes a new turn when he is awarded legal papers during an NBA playoff game. Including a new lawsuit over the Astral Project further complicates O’Neal’s legal woes. As the legal battles unfolded, the fallout from FTX’s collapse continued to ripple through the crypto world, leaving a lasting impact on the reputations of those involved.