NEW YORK — Martin Shkreli, called “Pharma Bro” for raising the price of a life-saving medicine, was ordered by a federal judge on Monday to turn over all copies of the Wu-Tang Clan’s unreleased “Once Upon a Time in Shaolin” album to his lawyers by Friday.
Judge Orders Martin Shkreli To Turn Over All Copies Of Unreleased Wu-Tang Clan Album
Judge Pamela K. Chen of Brooklyn ruled that Shkreli must produce all copies of what is commonly touted as the world’s rarest CD and submit the names of anybody he delivered the music to by September 30, as well as any cash he made from it.
In June, Martin was sued by a cryptocurrency group that paid $4.75 million for the only known copy of the record.
PleasrDAO accused Martin of violating their agreement by maintaining digital copies of the album and widely circulating them among his social media followers.
PleasrDAO attorney Steven Cooper stated that Chen’s decision was “an important victory for our client.”
He finished by saying, “We are pleased that Judge Chen recognised that immediate relief was necessary to thwart Mr. Shkreli’s continuing bad acts.”
Shkreli’s lawyer, Edward Paltzik, stated in an email that the judge’s ruling maintained “the perceived status quo” of the lawsuit’s evolution and had “no bearing whatsoever on the final outcome of the case.”
He also stated that the judge did not conclude that PleasrDAO was likely to succeed on the merits or that its accusations were correct.
Judge Orders Martin Shkreli To Turn Over All Copies Of Unreleased Wu-Tang Clan Album
The Wu-Tang Clan worked on “Once Upon a Time in Shaolin” for six years before auctioning off a single copy of the 31-track double album in 2015 under the condition that it not be distributed publicly. The multiplatinum hip-hop group hoped it would be considered a work of contemporary art.
Shkreli purchased the CD for $2 million before being convicted of lying to investors and defrauding them of millions of dollars in two failed hedge funds he ran.
In 2021, “Once Upon a Time is Shaolin” was auctioned to cover part of Shkreli’s court bills.
Shkreli was freed from prison in 2022 after serving most of his seven-year sentence.
SOURCE | AP
