NBA legend Shaquille O’Neal has finally been served with a summons and complaint in the class action filed against him and other celebrities over the collapse of FTX. Attorney Adam Moskowitz confirmed that O’Neal was served on Tuesday night during the Heat-Celtics NBA game that he was working for TNT. O’Neal was served with the original FTX lawsuit filed by the Moskowitz firm and a new lawsuit over the Astrals Project, an NFT/crypto offering. The allegations in the new crypto complaint are very serious and detail how he, his son, and his business partner all founded this NFT Metaverse and he made promises every week that he would be extremely involved, so the value of the NFTs would grow greatly.
The legal basis for any claims against celebrity product endorsers is tenuous at best, and it is difficult to imagine naming them as defendants in a civil lawsuit as anything but an attention grab. The plaintiffs could have attempted a much easier method of service, such as certified mail, which is allowed in practically every jurisdiction. Shaq has made some very good business decisions with conservative proven business models, and it seems out of character for him to be involved in such a lawsuit. Crypto currency in general is not a bad thing, but it is just gambling like any other currency speculation, except much more volatile.
In conclusion, the lawsuit against Shaq and other celebrities over the collapse of FTX is a publicity stunt, and the legal basis for any claims against them is tenuous at best. The plaintiffs could have attempted a much easier method of service, such as certified mail, which is allowed in practically every jurisdiction. Shaq has made some very good business decisions with conservative proven business models, and it seems out of character for him to be involved in such a lawsuit. Crypto currency in general is not a bad thing, but it is just gambling like any other currency speculation, except much more volatile.