"O'Neal indicated that despite being named in the lawsuit, he was merely a paid spokesperson for FTX and did not provide financial advice."
"The settlement aims to resolve all claims against O'Neal without him admitting wrongdoing, thus fully releasing him from future liability."
NBA Hall of Famer Shaquille O'Neal has agreed to pay $1.8 million to settle allegations from investors that he misled them about investing in FTX, a now-defunct crypto exchange. O'Neal insists he was solely a paid spokesman for FTX commercials, denying any financial advisement responsibility. This settlement, which exceeds the initial $750,000 he received for the commercial, would conclude a class-action lawsuit and free him from further liabilities, provided a judge approves it. It coincides with the conviction of FTX's former leader, Sam Bankman-Fried.
Read at Entrepreneur
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