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Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities. Harper v. O'Neal, 23-21912.
Adam Moskowitz, managing partner at MoskowitzLaw Firm in Coconut Grove, FL, is the lead attorney for the proposed class of investors in their lawsuit against the defendants, O'Neal, Astrals LLC and its various subsidiaries in the class action litigation before U.S. District Judge Federico A. Moreno of the Southern District of Florida.
"We are extremely fortunate that Judge Moreno authored the first extensive ruling on cryptocurrency and celebrity promotions," Moskowitz said. "He is the first federal judge to directly address whether celebrity promoters can be liable for promoting these unregistered securities."
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