Shakeel O’Neil He agreed to pay 1.8 million dollars to settle the claims that investors have been lost by promoting data Encryption exchange FTX.
Retired The American Professional League Superstar, who once urged the fans to trust the platform, will solve allegations without admitting the error. But the deal represents one of the first prominent settlements in the legal account on the FTX collapse.
The proposed settlement in Florida’s Federal Court of Florida will end a collective lawsuit accusing O’Neil of flying FTX as a trusted and legitimate investment tool – especially in live events and in social media content – with help in increasing the dependence of unregistered securities.
The chapter includes any person who deposited money in FTX or retains the code of ownership, FTT, between May 2019 and late 2022.
If the judge agrees to supervise the deal, the 1.8 million dollar O’Neal payments will cover all legal fees, notification and payment costs for qualified investors. The arrangement also includes a comprehensive version of future responsibility, and a ruling prevents it from seeking a recovery from FTX ESTRUPTCY ESTATE.
In short: the check he writes is final-and-including.
“We are pleased to have this behind us,” O’Neill’s lawyer said in a statement.
Unlike the other defendants and former supporters of FTX – including Tom Brady, Gezel Bondchen and Steve Carre I served him Legal papers.
The sports office sports were reported In February, O’Neill signed a $ 15 million deal to stay with “within the American Professional League”.
O’Neal Cnbc told 2022 that, with regard to FTX, “was just a spokesman for a commercial advertisement.”
O’Neal has been named in a collective lawsuit claiming that FTX speakers “are either controlled or promoted and assisted in [or] Participated actively “in a conspiracy” to market the company with the power of the company.
In previous interviews with CNBC made itO’Neill said he was actively avoided.
He said at that time: “I do not understand that, so I will stay away from that until I get a full understanding of what it is,” adding: “From my experience, it is very good to be true.”
