Court Dismisses Some Allegations Against Shaquille O’Neal in ‘Astrals’ NFT Project Case

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

A U.S. federal court has partially dismissed a class-action lawsuit against former basketball star Shaquille O’Neal related to his involvement in the NFT project Astrals.

The decision, issued by the U.S. District Court for the Southern District of Florida, comes as O’Neal faces allegations regarding his role in promoting the project, which featured 10,000 3D NFT avatars and a decentralized autonomous organization (DAO) aimed at fostering innovative projects.

The lawsuit accused O’Neal of being the public face of Astrals, urging investors to join the project with phrases like, “Hop on the wave before it’s too late.”

Despite the collapse of cryptocurrency exchange FTX in November 2022, O’Neal remained publicly supportive of Astrals, even posting a GIF from The Wolf of Wall Street on the project’s Discord channel, suggesting he was not leaving the project.

However, the lawsuit alleges that O’Neal later distanced himself from Astrals, leading to a significant drop in the value of its financial products.

In its ruling, the court dismissed the claim that O’Neal was a “control person” within the project, meaning someone who held actual power or control over its operations.

Shaquille O’Neal to Face Legal Action Over Astrals NFT Project and FTX Involvement
TLDR

Shaquille O’Neal faces a class action lawsuit over his involvement in the Astrals NFT project

The court dismissed allegations that O’Neal was a “control person” but found he could be cons… pic.twitter.com/tslw52EwOw

However, the court upheld the allegation that O’Neal could be