A federal district court in Miami ruled on Friday that former National Basketball Association star Shaquille O’Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens, establishing that he was indeed a “seller” of these unregistered securities. Under the leadership of Adam Moskowitz from the Moskowitz Law Firm, the proposed class of investors has filed the lawsuit against O’Neal, Astrals LLC, and its various subsidiaries.
Adam Moskowitz commented, “We are extremely fortunate that Judge Moreno authored the first extensive ruling on cryptocurrency and celebrity promotions.”
Further details on the ruling are available here.