Former NBA star Shaquille O’Neal has been given the final court approval to improve a lawsuit suits for $ 11 million with consumers who are not covered token (NFT).
The judge of the Federal Federico Moreno court judge issued a approvement of the negotiation between O’Neal and the class group led by Daniel Harper in an April 1 order available on April 8.
The deal has created a fund of up to $ 11 million for eligible class members and awarded $ 2.9 million in attorney and costs. All those who buy astrals Nfts From May 2022 to January 15 and those who bought the project’s native GLXY token to the project until mid-January are eligible.
“The fee sought by the lead class’s advice is reviewed and approved as fair and rational by the plaintiffs,” Moreno’s command read.
O’Neal is Press the lawsuit In May 2023 in his establishment and promotion of Solana based on the Astrals NFT project, claimed by the suit was a “offer and sale of unregistered security.”
The class group said they bought astrals NFT and “suffered investment losses” because of O’Neal’s “behavior” in the project promoting.
In August, Judge Moreno acknowledged That the class suit claims the former NBA player is a NFT seller. O’Neal resort in November.
Screenshot from court order to the final negotiation. Source: courtlistener
NFT sales slump
The Astrals NFT collection is made up of 10,000 unique 3D digital collectibles created in April 2022 by artist Damien Guimoneau in a Solana -based project that promotes a virtual world where users can socialize and play with others, including the basketball star.
Related: Nft sales plunge 63% in Q1, but the pudgy penguins, doodles buck trend
No activity or sales from collection in the past two years, According to At the NFT Marketplace Opensea.
In general, NFT sales are on the Deep Bear Market Territory, with only $ 27 million sold until April 7, down from more than $ 2 billion per week at the end of 2021, According to In cryptoslam.
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