FTC says Martin Shkreli 'flagrantly and repeatedly' violated his lifetime pharma ban
The FTC and several state attorneys general are seeking to hold Martin Shkreli in contempt for allegedly violating his lifetime ban from the pharmaceutical industry. Authorities claim Shkreli has continued to trade pharma stocks and provide industry commentary online.
Why it matters
This case tests the enforceability of lifetime industry bans and the regulatory oversight of individuals convicted of financial crimes.
The Federal Trade Commission and seven state attorneys general say Martin Shkreli has repeatedly violated his lifetime ban from the pharmaceutical industry. Bloomberg/Getty Images The Federal Trade Commission said Martin Shkreli is still trading pharmaceutical stocks. The FTC said the "Pharma Bro" continues to do this despite a lifetime ban. In a court filing, the FTC and seven state attorneys general asked a judge to hold Shkreli in contempt. The Federal Trade Commission and seven state attorneys general say that Martin Shkreli hasn't complied with his lifetime ban from the pharmaceutical industry. In a 37-page court filing, the FTC and the attorneys general state that Shkreli has repeatedly violated the ban by trading pharma stocks and publicly broadcasting opinions about the industry in livestreams and social media posts on X and Reddit.
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