The FTC asked that notorious 'pharma bro' Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge's ban on the convicted fraudster from working in the pharmaceuticals industry.
The FTC and a group of states that sued Shkreli said in the filing he has failed to comply with their requests to give them documents and submit to an interview as part of their probe into whether his involvement with Druglike violates the Cote's order banning him from the industry."Martin Shkreli's failure to comply with the court's order demonstrates a clear disregard for the law," said Holly Vedova, director of the FTC's Bureau of Competition, in a statement.
"The FTC will not hesitate to deploy the full scope of its authorities to enable a comprehensive investigation into any potential misconduct," Vedova said.Shkreli gained widespread infamy in mid-2015, when his drug company now known as Vyera Pharmaceuticals unapologetically hiked the price of Daraprim, which is an anti-parasitic medication used to treat pregnant women, babies and people with HIV, more than 4,000%, from $17.50 per pill to $750.
in December 2015, federal prosecutors in Brooklyn, New York, criminally charged Shkreli in connection with misleading investors in two hedge funds he previously ran, and with manipulating the stock shares of another
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Pharma bro’ Martin Shkreli yet to pay $65M fine for lifetime ban: FTCThe FTC said the “pharma bro” pay hasn’t paid any of a $64.6 million penalty that accompanied the ban.
Read more »
Feds Wants ‘Pharma Bro’ Martin Shkreli Held in ContemptAuthorities say Shkreli hasn’t paid a $64.6 million judgment and may be violating a court order barring him from the pharmaceutical business.
Read more »
U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry banA judge had imposed a lifetime ban on working in the drug industry last year.
Read more »
FTC calls for Martin Shkreli to be held in contempt of court for forming new drug companyThe FTC on Friday asked that Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge’s ban on the convicted fraudster from working in the pharmaceuticals industry.
Read more »
FTC Urged to Crack Down on Egg Industry's 'Organized Theft'As U.S. egg producers rake in record profits amid soaring prices, a farmer-led advocacy group focused on building a just and sustainable food system on Thursday implored the Federal Trade Commission to 'promptly open an investigation into the egg industry, prosecute any violations of the antitrust l
Read more »
Derek Chauvin asks appeals court to throw out murder conviction for George Floyd’s deathAn attorney for Derek Chauvin, the former Minneapolis police officer convicted of murdering George Floyd, has asked a judge to overturn the state charges against him, arguing that he was deprived a fair trial.
Read more »