Martin Shkreli livestreamed himself violating lifetime pharma ban, FTC says
Summary
Ars Technica reports that Martin Shkreli faces contempt in federal court for allegedly violating a lifetime ban from the pharmaceutical industry by trading stock in multiple drug companies and discussing the industry during livestreams on social media. The FTC and the attorneys general of seven states say the violations were flagrant and repeated and have asked a federal judge to hold him in contempt. They seek divestment from all pharmaceutical stocks, financial penalties equal to profits from trades, and escalating consequences for future breaches. The filing outlines four phases of alleged violations and notes that the stocks discussed in livestreams are likely only a fraction of Shkreli’s overall activity, with additional accounts referenced in the filing.