The Federal Trade Commission and seven US states filed a contempt motion Tuesday in New York federal court against Martin Shkreli, alleging he violated a lifetime pharmaceutical industry ban imposed at his 2022 release from prison.
The motion names the 43-year-old former pharmaceutical executive, known as "Pharma Bro," as having traded stocks in at least 60 pharmaceutical companies and publicly commented on their businesses since May 2022. His release conditions explicitly bar him from participating in the pharmaceutical industry, including ownership stakes or business decisions.
The FTC and state co-plaintiffs seek a contempt ruling, which could result in additional penalties if the allegations are proven.