FTC: ‘Pharma bro’ Shkreli violated lifetime industry ban, should be held in contempt
Summary
The Federal Trade Commission (FTC) and seven states asked a court to punish Martin Shkreli for breaking a lifetime ban on working in the pharmaceutical industry. They claim he has repeatedly ignored the court order and should be held in contempt.Key Facts
- Martin Shkreli received a lifetime ban from working in the pharmaceutical industry.
- The FTC and seven states say Shkreli violated this ban multiple times.
- They filed a request in a federal court in New York to punish him.
- The legal action aims to enforce the ban and hold Shkreli accountable.
- The case is being heard in the U.S. District Court for the Southern District of New York.
- Contempt of court means ignoring or disobeying a court order.
- Shkreli is often known as the “pharma bro” for his past price increases on drugs.
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