Shaquille O'Neal Sued Over Promoting Astrals Project NFTs in Miami Federal Court

MIAMI, May 25, 2023 /PRNewswire/ -- On May 22, 2023, after months of investigation, Daniel Harper, through The Moskowitz Law Firm PLLC and Mark Migdal Hayden LLP, filed a class action Complaint in the Southern District of Florida, currently pending before Judge Frederico A. Moreno and Magistrate Judge Jonathan Goodman, captioned Daniel Harper v. Shaquille O'Neal, Case No. 1:23-cv-21912-FAM (S.D. Fla.).

The action asserts claims under §§5, 12(a)(1), and 15 of the Securities Act of 1933 (the "Securities Act"), as well as under the Florida and Virginia state law on behalf of a class consisting of All persons or entities who, within the applicable limitations period, i.e., March 9, 2023 to the present date, inclusive (the "Class Period"), purchased an NFT from the Astrals Project.

"Our main goal is to allow the common investor a fighting chance," said plaintiffs' counsel Adam Moskowitz, founder of The Moskowitz Law Firm, PLLC. Moskowitz further explains "In the related FTX litigation, he falsely told the world he was 'all in with crypto,' but with this case, there is no dispute that he, his business partner, and even his son, Myles, who served as head of 'Investor Relations,' made routine postings, assuring the customers that he would 'never' abandon them, even after the FTX collapse. Shaq even posted a video clip of the movie The Wolf of Wall Street, namely, to give the impression that he was not going anywhere. He has not been seen or heard from in months."

If you purchased an NFT from the Astrals Project between March 9, 2023 and the present date, inclusive, you are encouraged to contact plaintiffs' counsel, Joseph Kaye of The Moskowitz Law Firm PLLC by phone at (305) 740-1423, or by email at [email protected] and [email protected], for more information.

The complaint alleges that O'Neal violated provisions of the Securities Act when he and his son, Myles O'Neal, founded a company called ASTRALS, which offered and sold Non-Fungible Tokens (NFTs) to investors nationwide and across the globe. The lawsuit alleges that the NFTs were unregistered securities, O'Neal participated in ASTRALS' failure to register the NFTs, as well as their offer and sale to the investors, who are entitled to a refund of their investments into the NFTs.

If you wish to serve as lead plaintiff, you must move the Court no later than July 24, 2023. If you wish to discuss this action and potentially join it as a plaintiff and/or class representative, or otherwise have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, Joseph Kaye of The Moskowitz Law Firm PLLC by phone at (305) 740-1423, or by email at [email protected] and [email protected].

SOURCE The Moskowitz Law Firm