Attorneys representing investors in the cryptocurrency company FTX have served retired basketball player and NBA Hall of Famer, Shaquille O’Neal, with a class-action lawsuit filed against him and other celebrities who endorsed the firm. The lawsuit was filed by Edwin Garrison, an investor in the company who claimed that his crypto account went bankrupt after being exposed to the celebrity endorsements.
Adam Moskowitz, the attorney representing the investors in the lawsuit, tweeted out the development, stating that they had served O’Neal outside his house, and his home video cameras had recorded their service. The attorneys made it clear that O’Neal was not to destroy or erase any of the security tapes, as they must be preserved for the lawsuit.
O’Neal had been avoiding being served the legal documents from the lawsuit, which was filed in December. Other celebrities, including NBA champion Stephen Curry and NFL champion Tom Brady, were also named in the lawsuit. FTX was the second-largest cryptocurrency exchange until it filed for bankruptcy last November, behind Binance.
Last year, O’Neal denied any involvement with FTX other than being a paid spokesperson for the company. “I have nothing to hide. If I was heavily involved, I would be at the forefront saying, ‘Hey.’ But I was just a paid spokesperson,” he said in December 2022.
The lawsuit against the celebrities who endorsed FTX is ongoing, and the outcome remains to be seen. As cryptocurrency continues to grow in popularity and use, more cases like this may arise, and it will be up to the courts to determine liability for those involved.
