Shaquille O’Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.
The settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.
O’Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.
Source: Court Listener
The case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.
Other celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele Bündchen, billionaire investor Kevin O’Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others.
Notably, FTX investors faced challenges in serving O’Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.
Lawyers representing the victims described O’Neal as “running from the lawsuit,” after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences.
O’Neal finalizes $11 million settlement over Astrals NFT project
The settlement with FTX investors comes as O’Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.
In May 2023, O’Neal was served with the Astral NFT lawsuit during an NBA game at Miami’s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O’Neal were unregistered securities.
Astrals is a Solana-based project featuring 10,000 NFTs, a metaverse called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.
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Norman Tebbit, the former Tory minister who served in Margaret Thatcher’s government, has died at the age of 94.
Lord Tebbit died “peacefully at home” late on Monday night, his son William confirmed.
One of Mrs Thatcher’s most loyal cabinet ministers, he was a leading political voice throughout the turbulent 1980s.
He held the posts of employment secretary, trade secretary, Chancellor of the Duchy of Lancaster and Conservative party chairman before resigning as an MP in 1992 after his wife was left disabled by the Provisional IRA’s bombing of the Grand Hotel in Brighton.
He considered standing for the Conservative leadership after Mrs Thatcher’s resignation in 1990, but was committed to taking care of his wife.
Image: Margaret Thatcher and Norman Tebbit in 1987 after her election victory. Pic: PA
Tory leader Kemi Badenoch called him an “icon” in British politics and was “one of the leading exponents of the philosophy we now know as Thatcherism”.
“But to many of us it was the stoicism and courage he showed in the face of terrorism, which inspired us as he rebuilt his political career after suffering terrible injuries in the Brighton bomb, and cared selflessly for his wife Margaret, who was gravely disabled in the bombing,” she wrote on X.
“He never buckled under pressure and he never compromised. Our nation has lost one of its very best today and I speak for all the Conservative family and beyond in recognising Lord Tebbit’s enormous intellect and profound sense of duty to his country.
“May he rest in peace.”
Image: Lord Tebbit and his wife Margaret stand outside the Grand Hotel in Brighton. Pic: PA
Tory grandee David Davis told Sky News Lord Tebbit was a “great working class Tory, always ready to challenge establishment conventional wisdom for the bogus nonsense it often was”.
“He was one of Thatcher’s bravest and strongest lieutenants, and a great friend,” Sir David said.
“He had to deal with the agony that the IRA visited on him and his wife, and he did so with characteristic unflinching courage. He was a great man.”
Reform leader Nigel Farage said Lord Tebbit “gave me a lot of help in my early days as an MEP”.
He was “a great man. RIP,” he added.
Image: Lord Tebbit as employment secretary in 1983 with Mrs Thatcher. Pic: PA
Born to working-class parents in north London, he was made a life peer in 1992, where he sat until he retired in 2022.
Lord Tebbit was trade secretary when he was injured in the Provisional IRA’s bombing in Brighton during the Conservative Party conference in 1984.
Five people died in the attack and Lord Tebbit’s wife, Margaret, was left paralysed from the neck down. She died in 2020 at the age of 86.
Before entering politics, his first job, aged 16, was at the Financial Times where he had his first experience of trade unions and vowed to “break the power of the closed shop”.
He then trained as a pilot with the RAF – at one point narrowly escaping from the burning cockpit of a Meteor 8 jet – before becoming the MP for Epping in 1970 then for Chingford in 1974.
Image: Lord Tebbit during an EU debate in the House of Lords in 1997. Pic: PA
As a cabinet minister, he was responsible for legislation that weakened the powers of the trade unions and the closed shop, making him the political embodiment of the Thatcherite ideology that was in full swing.
His tough approach was put to the test when riots erupted in Brixton, south London, against the backdrop of high rates of unemployment and mistrust between the black community and the police.
He was frequently misquoted as having told the unemployed to “get on your bike”, and was often referred to as “Onyerbike” for some time afterwards.
What he actually said was he grew up in the ’30s with an unemployed father who did not riot, “he got on his bike and looked for work, and he kept looking till he found it”.