The judge ruled that O'Neil, as the "seller" of Astrals Non-fungible Token, must respond to the related class action lawsuit.

Odaily Planet Daily News Former professional basketball player Shaquille O’Neal will need to defend against some claims against him in the Astrals Non-fungible Token class-action lawsuit. The lawsuit has been ongoing for over a year, with O’Neal being named as a defendant, claiming that the Non-fungible Token is an unregistered security. Recently, Judge Federico Moreno of the Miami Federal Court ruled on O’Neal’s motion to dismiss, finding that the plaintiff’s accusation that O’Neal was the “seller” of the Astrals Non-fungible Token project means that O’Neal needs to respond to this. However, the judge rejected O’Neal’s claim to control the project. The lawsuit in May 2023 alleges that the Non-fungible Token is an unregistered security promoted by O’Neil online. Judge Moreno wrote, “The lawsuit adequately alleges that Astrals and Galaxy Token are ‘securities’ subject to federal securities laws.” (Cointelegraph)