Lawyers at the Moskowitz Law Firm have revealed that they were finally able to serve papers to former NBA star Shaquille O'Neal over his role in promoting the bankrupt crypto exchange FTX.
The attorneys, representing investor Edwin Garrison in a class-action lawsuit regarding the bankruptcy, initially claimed that their multiple attempts to deliver papers in person had been unsuccessful over the past several months.
- The suit, filed in November 2022 following the bankruptcy, also named American football player Tom Brady, comedian Larry David, and several other athletes like Stephen Curry and Naomi Osaka as defendants.
- The lawsuit claims that those celebrities played an active role in FTX's sale of unregistered securities.
- Some defendants requested the dismissal of the case last week, arguing that FTX should be the addressee of the allegations instead of celebrity endorsers.
- Lawyer Adam Moskowitz said Shaquille O'Neal was basically the largest man hiding from the lawsuit.
- The papers were served to O'Neal outside his house, and the home security cameras recorded the incident.
- The delivery in person will pave the way for the lawsuit to proceed.
- In the advertisement, the famous NBA legend said he was all in on the exchange and excited to partner with FTX to help make crypto accessible for everyone.
- FTX, previously the third-largest crypto exchange, filed for Chapter 11 bankruptcy in November 2022, with all the entities under the roof of FTX Group consisting of around 130 firms.
- The downfall followed the claims that former CEO Sam Bankman-Fried (SBF) used customer funds in FTX to compensate for losses at FTX's sister company Alameda Research.
- In March, another $1B class-action lawsuit led by Edwin Garrison also sued YouTubers who promoted FTX, including Kevin Paffrath, Brian Jung, and Ben Armstrong, consolidating several cases.