The court ordered Martin Shkreli to surrender all copies of Wu Tang Clan’s rare album “Once Upon a Time in Shaolin” to his lawyers, The Associated Press (AP) reported.
This directive comes as part of ongoing litigation with PleasrDAO, a cryptocurrency collective that purchased the album for $4.75 million and accused Shkreli of violating their agreement by retaining and distributing digital copies, according to AP. Judge Pamela K. Chen of Brooklyn also mandated Shkreli must disclose any revenues from the album and list individuals to whom he has distributed the music by Sept. 30.
Judge orders ‘Pharma Bro’ Martin Shkreli to turn over all copies of unreleased Wu-Tang Clan album https://t.co/MwKyOKo37A
— The Washington Times (@WashTimes) August 26, 2024
This decision aims to prevent further unauthorized actions by Shkreli concerning the album, which Wu-Tang Clan intended as a piece of contemporary art and not to be publicly released, the outlet reported. PleasrDAO attorney Steven Cooper spoke up about his client’s win.
“We are pleased that Judge Chen recognized that immediate relief was necessary to thwart the continuing bad acts of Mr. Shkreli,” Cooper said in a statement, AP reported. Shkreli’s attorney pointed out that this ruling does not predict the lawsuit’s final outcome and stated it merely preserves the status quo of the case. (RELATED: May Or May Not Be A Lizard Person’: Fmr CEO Tells Tucker His ‘Joke’ About Hillary Clinton Got ‘Taken The Wrong Way’)
NEW YORK, NY – AUGUST 4: Former pharmaceutical executive Martin Shkreli pauses while speaking to the press after the jury issued a verdict in his case at the U.S. District Court for the Eastern District of New York, August 4, 2017. (Photo by Drew Angerer/Getty Images)
Shkreli, who previously gained notoriety for drastically raising the price of a lifesaving drug, bought the album in 2015 before his conviction on securities fraud charges related to two hedge funds he managed, according to AP. The album was sold in 2021 to help cover his court debts following his conviction. Shkreli was released from prison in 2022, having served most of a seven-year sentence.
