FTC, States Ask Court to Hold ‘Pharma Bro’ Shkreli in Contempt for Trading Drug Stocks
The Federal Trade Commission and seven states have asked a federal judge to hold Martin Shkreli in contempt of court. Authorities allege Shkreli repeatedly and flagrantly violated a 2022 court order that banned him for life from the pharmaceutical industry. The current filing claims Shkreli violated these terms by trading drug stocks and livestreaming his activities. The 2022 order specifically prohibits Shkreli from making business decisions or holding ownership stakes within the pharmaceutical sector.
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- ✓ The FTC and seven states asked a federal judge to hold Martin Shkreli in contempt for violating a 2022 court order.
- ✓ Shkreli is subject to a lifetime ban from the pharmaceutical industry.
- ✓ The 2022 ban prohibits Shkreli from holding ownership stakes or making business decisions in the pharma industry.
- ✓ Shkreli was banned after a trial found he organized an illegal scheme to perpetuate a monopoly for the drug Daraprim.
What changed
The FTC and seven states filed a formal request for a contempt ruling based on allegations that Shkreli traded pharmaceutical stocks.
Live updates
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FTC and Seven States Seek Contempt Ruling Against Martin Shkreli
The Federal Trade Commission and seven states have asked a federal judge to hold Martin Shkreli in contempt of court. Authorities allege Shkreli repeatedly and flagrantly violated a 2022 court order that banned him for life from the pharmaceutical industry. The current filing claims Shkreli violated these terms by trading drug stocks and livestreaming his activities. The 2022 order specifically prohibits Shkreli from making business decisions or holding ownership stakes within the pharmaceutical sector.
Why it matters
Shkreli received the lifetime ban after a trial determined he organized an illegal scheme to maintain a monopoly for the drug Daraprim. This legal restriction was a primary condition of his 2022 release. The current move by the FTC seeks to enforce those existing judicial boundaries.
What is confirmed
- The FTC and seven states asked a federal judge to hold Martin Shkreli in contempt for violating a 2022 court order.
- Shkreli is subject to a lifetime ban from the pharmaceutical industry.
- The 2022 ban prohibits Shkreli from holding ownership stakes or making business decisions in the pharma industry.
- Shkreli was banned after a trial found he organized an illegal scheme to perpetuate a monopoly for the drug Daraprim.
Still unconfirmed
- Martin Shkreli livestreamed himself violating his lifetime pharma ban.
What to watch next
- A federal judge's ruling on whether Shkreli is in contempt of court
- Details on the specific drug stocks Shkreli allegedly traded
confidence 100%Sources used for this update (9)
- ny1.com — City Council holds hearing on Mamdani's pied-à-terre tax rollout
- CNBC — Martin Shkreli violated lifetime pharma industry ban, FTC and states say in contempt claim
- WSJ — FTC, States Ask Court to Hold ‘Pharma Bro’ Shkreli in Contempt for Trading Drug Stocks
- CNN — ‘Pharma Bro’ Martin Shkreli has caught the attention of federal and state authorities again
- The New York Times — Martin Shkreli Violated Lifetime Ban From Drug Industry, U.S. Says
- Ars Technica — Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says
- www.ftc.gov — FTC, States Ask Federal Court to Hold Martin Shkreli in ...
- www.cnbc.com — Martin Shkreli violated lifetime pharmaceutical ban: FTC - CNBC
- www.theguardian.com — FTC and seven states seek contempt ruling against Shkreli ...
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