Shaquille O'Neal Faces Mixed Verdict in Astrals NFT Lawsuit

Court dismisses some claims but allows allegations of selling unregistered securities to proceed.

Shaquille O'Neal must defend against claims of promoting unregistered securities in the Astrals NFT project.
The court dismissed the allegation that O'Neal was a 'control person' within the project.
O'Neal's broad promotions through social media were deemed sufficient for the 'seller' classification.
The lawsuit alleges O'Neal abandoned Astrals following the collapse of cryptocurrency exchange FTX.
Investors claim significant financial losses due to the project's decline in value.