In an interview Monday with ESPN's Hannah Storm, Sefolosha said he hasn't fully healed from the injuries, which also included severe ligament damage.
Sefolosha said he elected to file suit both for himself and to embolden others who might have gone through similar situations to stand up.
"There's a lot of unknown about how this will affect me two years from now, five years from now, 10 years from now," Sefolosha said. "Also because I think it's the right approach to put lights in a situation like this and to ... fight back in a legal way and in a way that can empower, hopefully, more people."
Sefolosha had previously filed a notice of claim to preserve his option to file a lawsuit. On Wednesday, sources confirmed to ESPN a New York Post report that the amount of the claim is $50 million, the maximum Sefolosha could see in any potential verdict.
On Oct. 9, he was acquitted of misdemeanor charges of obstructing government administration, disorderly conduct and resisting arrest.
Information from ESPN.com's Kevin Arnovitz contributed to this report.