Overview

• The proposed deal, filed in a Florida federal court, would end a class-action accusing O’Neal of marketing FTX as a trustworthy investment at live events and on social media.
• O’Neal’s $1.8 million payout is structured to cover legal fees, administration costs and investor distributions and provides a broad release from future liability.
• His agreement marks one of the first high-profile resolutions in the wave of litigation triggered by FTX’s 2022 collapse.
• Unlike fellow endorsers whose cases were largely dismissed, such as Tom Brady and Steph Curry, O’Neal remained in the lawsuit after evading service for three months.
• Investors in the class-action are still seeking about $21 billion in damages beyond the $9.2 billion available under FTX’s bankruptcy proceedings.