01/14/2022 | Press release | Distributed by Public on 01/14/2022 17:42
Today, U.S. District Court Judge Denise Cote held "Pharma Bro" Martin Shkreli liable for antitrust claims brought by the Federal Trade Commission and a group of seven state enforcers. Finding that Shkreli's conduct was "egregious, deliberate, repetitive, long-running, and ultimately dangerous," the Court imposed a lifetime ban against Shkreli participating in the pharmaceutical industry and found Shkreli liable for $64.6 million in disgorgement
Federal Trade Commission Chair Lina Khan issued the following statement regarding today's decision:
"Judge Cote's decision to ban Shkreli for life from the pharmaceutical industry is a significant victory for American consumers. This precedent-setting relief should be a warning to corporate executives everywhere that they may be held individually responsible for the anticompetitive conduct they direct or control. Many thanks and congratulations are due to the exceptional FTC staff and state attorneys general for vigorously pursuing this case and delivering this just outcome. Today's win reflects their talent, hard work, and deep commitment to serving the public."