FTC, States Ask Federal Court to Hold Martin Shkreli in Contempt for Allegedly Violating Lifetime Ban from…

The Federal Trade Commission and seven states today asked a federal judge to hold Martin Shkreli in contempt based on their allegations that he flagrantly and repeatedly violated a 2022 court order that banned him from the pharmaceutical industry. In a motion and brief filed today, the FTC and its state co-plaintiffs allege that Shkreli, since his release from prison in May 2022, has been violating the court order by publicly trading in pharmaceutical industry stocks and broadcasting his opinions about the business and management of many pharmaceutical industry companies.

“After a full trial, the court found that Martin Shkreli’s conduct drove up prescription drug costs for American patients and blocked the entry of lower-cost generics,” said Daniel Guarnera, Director of the FTC’s Bureau of Competition. “When judgment is entered by a court, whether it’s a settlement or an order following a trial, defendants must fulfill their obligations. Today’s action should serve as notice that the FTC will not hesitate to enforce violations of court orders.”