World · North America · 1 hr ago
US authorities seek contempt finding against Martin Shkreli
US authorities are asking a federal judge to hold Martin Shkreli in contempt, alleging he violated a court order barring him from pharmaceutical industry activity.
The request comes from the Federal Trade Commission and attorneys general from seven states: New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia.
The ban followed a case over Shkreli's actions involving Daraprim, a drug whose price he raised by 4,000% overnight to $750 per pill.
In 2022, he was found liable in that case, ordered to pay $64.6 million and banned from pharmaceutical industry activity.
Authorities say he traded pharmaceutical stocks and discussed trades online, including a bet against biotech company Cassava Sciences before it announced a failed clinical study.
They want him to pay the profits from the trades and say he could be sent to prison if he does not stop; they also allege his sister and her partner may have helped him.
The judge has been asked to order evidence preserved, while authorities say they still lack much of the evidence needed to determine the extent of the alleged misconduct.
The Federal Trade Commission and attorneys general from seven states asked a federal judge on Tuesday to hold Martin Shkreli in contempt.
They allege that his pharmaceutical stock trading and social media statements violated a court order barring him from the pharmaceutical industry.
They asked the judge to fine him the total profits from the trades and potentially send him to prison if he does not stop.
Shkreli was found liable in 2022 for anticompetitive conduct involving the drug Daraprim and ordered to pay $64.6 million.
Authorities say they lack access to much of the evidence needed to determine the extent of his alleged misconduct.
- Who
- The Federal Trade Commission and attorneys general from seven states are seeking the contempt finding against Martin Shkreli.
- What
- They asked a federal judge to find him in contempt, fine him the total profits from his trades and potentially imprison him if he does not stop.
- When
- Tuesday. The article was published on October 13, 2026.
- Where
- In federal court in the United States.
- Why
- Authorities allege that Shkreli violated a court order barring him from the pharmaceutical industry through trading and social media statements.
This story does not have two clearly opposing sides.
The FTC and seven states sued Shkreli over his conduct involving Daraprim.
Shkreli was found liable, ordered to pay $64.6 million and banned from activity in the pharmaceutical industry.
Shkreli was released from prison after serving time for securities fraud.
Shkreli posted on X that he did not think Cassava Sciences’ clinical study worked.
Cassava Sciences publicly said its clinical study had failed.
The FTC and seven states asked a federal judge to hold Shkreli in contempt.
- States involved
- New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia
- Daraprim price increase
- 4,000% overnight to $750 per pill
- Court-ordered payment
- $64.6 million
- Pharmaceutical stock competition
- At least 11 stocks
- Cassava Sciences post
- November 21, 2024
What people are saying
In addition to his public trading, Shkreli himself has indicated that he has more accounts and does most of his trading off social media
We do not currently have access to the vast majority of evidence that would establish the extent of his misconduct, including how he has profited from his violations and whether he continues to own any Pharmaceutical Company stocks
I don’t think it doesn’t work. It is impossible for it to work.
They don’t want you to know. They want you to stay stupid. I try to give you some advice. Twenty years of experience. I made a lot of money in these binary events, man. Some people say that I’m the GOAT at it, but you didn’t want to hear nothing
Sources
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