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In a courtroom twist as dramatic as a buzzer-beater shot, Hall of Fame NBA legend Shaquille O’Neal has secured final judicial approval of an $11 million class action settlement tied to his promotion of the Astrals NFT project. The green light was given by U.S. District Judge Federico A. Moreno, who deemed the agreement fair and equitable, putting a legal lid on accusations that Shaq’s crypto endorsements crossed securities law lines.

The Allegations: NFTs, Crypto, and Celebrity Endorsements Collide

O’Neal, known for his dominant presence on the basketball court and larger-than-life personality, found himself in the crosshairs of a 2023 proposed securities class action over his promotional role in the Astrals nonfungible token (NFT) project — a digital asset linked to an online role-playing game he allegedly helped co-found.

According to the lawsuit, the plaintiffs — NFT and GLXY token buyers — claimed that Shaq violated securities laws, specifically accusing him of aggressively marketing the NFTs to Florida residents. Plaintiffs further argued that O’Neal’s promotional history with collapsed crypto exchange FTX added fuel to the speculative fire, suggesting he should have known the legal implications of his marketing moves.

Breaking Down the Court’s Decision

In an order dated April 1 and unsealed Tuesday, Judge Moreno gave the final nod to the $11 million settlement, stating the agreement was "fair, reasonable, and adequate", and importantly, free from material deficiencies or favoritism.

As part of the settlement:

• $2.91 million — roughly 26% of the total fund — was awarded in attorney’s fees to The Moskowitz Law Firm and its co-counsel.

• $15,000 service awards will go to each of the named plaintiffs in recognition of their role in steering the case.

• A settlement class was certified, encompassing anyone who purchased Astrals NFTs between May 24, 2022, and the preliminary approval date in November, or GLXY tokens acquired before that same date.

The settlement effectively brings closure to a fast-paced crypto class action that blended blockchain ambition with celebrity spotlight — a mix that’s become increasingly familiar in U.S. courts.

Legal Strategy and Final Play

Throughout the case, the plaintiffs pushed the narrative that Shaq wasn’t just a passive figurehead but an active promoter of digital investments tied to speculative markets. By invoking his past marketing work with FTX, which itself crumbled in spectacular fashion, they painted a picture of pattern and precedence. The plaintiffs alleged that the Astrals NFTs were not mere collectibles but unregistered securities, and that Shaq’s involvement misled buyers into thinking the assets were safe bets.

Judge Moreno, however, did not rule on the securities status of the NFTs themselves — a legal gray zone that continues to stir debate in crypto law circles. Instead, he focused on the integrity of the settlement terms and the transparency of the process.