• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shaquille O’Neal to Defend Claims in Unregistered Astral NFT Case

user avatar

by Giorgi Kostiuk

a year ago

  1. Case History
  2. Court's Decision
  3. Current Situation


    4. Former professional basketball player Shaquille O’Neal has faced a lawsuit concerning unregistered NFTs of the Astral project. The case has been ongoing for over a year, and O’Neal will now need to address the claims.

    Case History

    The lawsuit, which started over a year ago, raises claims against O’Neal regarding unregistered securities that he promoted online. The current suit alleges that Astral and Galaxy tokens are securities that were not registered under federal laws.

    Court's Decision

    In an order dated August 16, Miami federal court judge Federico Moreno found that the plaintiffs properly alleged O’Neal to be a 'seller' of the Astral NFT project. The judge rejected the claims that O’Neal controlled the project. Additionally, the court acknowledged that the plaintiffs sufficiently alleged that Astral and Galaxy tokens are securities under federal law.

    Judge Moreno wrote that the lawsuit 'sufficiently alleged that Astral and Galaxy tokens are securities subject to federal securities laws.'Federico Moreno

    Current Situation

    O’Neal’s lawyers argue for the case's dismissal, claiming he is neither a 'seller' nor a 'control person' of the project and that the NFTs and Galaxy tokens are not securities under U.S. law. Currently, Astral tokens are valued at approximately 0.106 SOL, equivalent to around $15.50 on the Magic Eden marketplace.

    Shaquille O’Neal must respond to the lawsuit's claims by September 12. O’Neal's representatives have not yet commented on the case.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Ethereum's Rise: A Lesson in Missed Opportunities

chest

Ethereum has transformed from a low-priced experimental coin to a financial powerhouse, reaching an all-time high of $4,946, highlighting the potential rewards of early investments in cryptocurrency.

user avatarMaya Lundqvist

Cheems: A Community-Driven Meme Coin with Stability

chest

Cheems has established itself as a reliable meme coin, attracting a loyal following and offering low transaction fees.

user avatarLeo van der Veen

Pudgy Penguins: Merging Meme Culture with NFT-Backed Collectibles

chest

Pudgy Penguins combines meme coin culture with NFT-backed digital collectibles, appealing to investors seeking unique assets.

user avatarKaterina Papadopoulou

Bitcoin Shows Short-Term Technical Patterns Amidst Long-Term Predictions

chest

Ali Martinez shares a short-term technical analysis of Bitcoin's price movement, highlighting a Parallel Channel pattern in the 4-hour chart.

user avatarLi Weicheng

US Delays Semiconductor Tariffs on China Until 2027

chest

The US has announced a delay in implementing tariffs on Chinese semiconductors until June 2027, aiming to stabilize trade relations with China.

user avatarAisha Farooq

Apemars Transforms Meme Culture into a Mission on Ethereum

chest

Apemars is redefining participation in the meme coin space by offering a story-driven journey on the Ethereum blockchain.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.