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Federal Trade Commission and Seven States Seek Contempt Ruling Against Shkreli

The Federal Trade Commission and seven states made the request. They asked a federal judge to hold Martin Shkreli in contempt.

A trial found he ran an illegal scheme. The scheme aimed to keep a monopoly on the drug Daraprim.

A 2022 court order banned Shkreli from the pharmaceutical industry for life. Regulators allege he broke that ban.

They say the conduct began after his May 2022 prison release. The motion says he traded stocks in at least 60 pharmaceutical companies.

He also publicly commented on companies' business and management. They want him to sell his stock holdings.

They want fines based on profits from his trades. They also want penalties that grow for any future violations. MarketWatch said the case is related to his influence on pharmaceutical stocks.

Klear Note — A contempt ruling can punish someone for disobeying a court order.
Key Terms 2
  • contempt Refusing to obey a court order, which can lead to punishment.
  • monopoly When one company controls all sales of a product.
Verified Sources 3