Shaquille O’Neal served in FTX class action

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Shaquille O’Neal FTX class action lawsuit overview: 

• Who: Former NBA superstar Shaquille O’Neal was finally served as part of a class action lawsuit filed against FTX founder Sam Bankman-Fried and multiple celebrity endorsers.
• Why: O’Neal is among the celebrity endorsers who promoted the now-defunct FTX cryptocurrency exchange, which collapsed in November 2022 and is now alleged to have been a Ponzi scheme. 
• Where: FTX was used by crypto investors nationwide. 

Hall-of-fame basketball player Shaquille O’Neal was recently served as part of a class action lawsuit against FTX founder Sam Bankman-Fried and several celebrity endorsers, following the collapse of the cryptocurrency exchange in November 2022. 

Plaintiff Edwin Garrison claims Bankman-Fried, along with O’Neal and other celebrity endorsers such as Tom Brady and Larry David, among others, of defrauding investors by promoting what ultimately turned out to be an alleged Ponzi scheme. 

Garrison argues Bankman-Fried and the celebrity endorsers made false representations and FTX and engaged in deceptive conduct that ultimately harmed investors who used the crypto trading platform. 

O’Neal, meanwhile, was served outside of his Atlanta home on April 16, according to a tweet from The Moskowitz Law Firm, which is representing the plaintiffs in the complaint. 

The former NBA superstar had made headlines for seemingly avoiding being served for the class action lawsuit, which included claims O’Neal had been hiding and driving away from the process servers, reports CoinDesk. 

O’Neal dubbed ‘Shaqtoshi’ in FTX commercial, says class action

O’Neal was reportedly dubbed “Shaqtoshi” in the one FTX commercial he appeared in, as part of the now-defunct exchange’s “FTX: I Am All In” advertising campaign. 

The law firm noted that security cameras at O’Neal’s home had captured him being served, and said they warned him not to destroy or erase the tapes since they want them to be preserved for the complaint. 

Moskowitz efforts to serve O’Neal were possibly made harder earlier this month after a Florida judge ruled the former Los Angeles Lakers center could not be served electronically, reported CBS News. 

“We just served personally Shaquille O’Neal outside his house with a copy of our complaint at 4 p.m.,” Moskowitz said, in an email to The Block. “We took Judge Moore’s instructions very seriously and are glad to finally end this silly sideshow.”

In other crypto news, GAW Miners and ZenMiner agreed to pay $3.5 million last month to resolve claims they misled investors about the amount of profit they would yield from their virtual currency mining operations. 

Were you impacted by the collapse of the now-defunct FTX cryptocurrency exchange? Let us know in the comments!

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