FTC Seeks Contempt Ruling Against Martin Shkreli for Violating Pharma Ban
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The Federal Trade Commission and seven states have initiated contempt proceedings against Martin Shkreli, who was previously imprisoned for defrauding investors. Shkreli's release conditions prohibit him from participating in the pharmaceutical industry, yet he allegedly livestreamed himself violating this ban.
The FTC has requested a federal court to hold Shkreli in contempt for these violations, which include ownership stakes and business decisions within the pharmaceutical sector. The actions taken by the FTC and the states aim to enforce the court order that bars Shkreli from the industry.
Sources
Every quote below is verbatim from the article it is attributed to.
“The Federal Trade Commission and seven states started contempt proceedings against Martin Shkreli, the “Pharma Bro” who served almost seven years in prison for defrauding investors.”
Bloomberg — Shkreli Faces Contempt for Breaking Pharma Industry Ban“Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says”
Ars Technica — Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says“Martin Shkreli’s 2022 release conditions bar him from participating in the pharmaceutical industry, including ownership stakes or business decisions”
The Guardian — FTC and seven states seek contempt ruling against Shkreli over pharma ban“The FTC asked a federal court to hold Martin Shkreli in contempt for violating a court order banning him from working in the pharmaceutical industry”
stat news — STAT+: FTC demands Martin Shkreli divest his pharma stocks
Earlier versions
- Oct 13, 4:54 PM — Shkreli Faces Contempt for Breaking Pharmaceutical Industry Ban (2/2)