Shaquille O’Neal invested a substantial amount of money in a marijuana business, and the Hall of Famer says he has nothing to show for it. He is hoping a lawsuit will change that.
O’Neal filed a lawsuit recently claiming he and his fellow plaintiff, Jerome Crawford, invested $150,000 in a marijuana business back in 2016. The suit, which was obtained by TMZ, claims the men invested the money so the company could “pursue opportunities in the field of legal cannabis.” By late 2017, they say the company had “seemingly had no licenses, no revenue, and no operations.”
Shaq’s attorney pressed the company for details on how the money he invested was being spent. After the questions were initially ignored, O’Neal’s legal team threatened litigation. The company then agreed to pay O’Neal and Crawford their money in $10,000 installments. Only $20,000 of that was paid, according to the lawsuit.
O’Neal and Crawford are seeking their initial investment back plus interest. They also want damages in excess of $1 million after they claim the company was mismanaged.
Shaq has made numerous investments since he retired from playing in 2011. They obviously have not all been successful.
Photo: Mar 10, 2017; Atlanta, GA, USA; NBA former player Shaquille O’Neal watches a game between the Atlanta Hawks and Toronto Raptors in the third quarter at Philips Arena. The Hawks won 105-99. Mandatory Credit: Brett Davis-USA TODAY Sports
