Former NBA player Shaquille O’Neal will pay $1.8 million to settle a class action lawsuit related to the demise of cryptocurrency exchange FTX.
While the proposed settlement with O’Neal had been agreed to in April, the payment amount and other terms were disclosed in a filing with the U.S. District Court, Southern District of Florida, Miami Division, earlier this week.
The settlement class includes anyone who deposited funds into FTX or bought its FTT token between May 2019 and late 2022.
The agreement, which still needs court approval, would provide O’Neal with a broad release from future claims and also includes a stipulation that he can’t seek reimbursement from the FTX estate.
The payment will be made within 30 days of the settlement being finalized, according to the filing.
