Federal and state authorities have asked a judge to hold Martin Shkreli in civil contempt, accusing the former entrepreneur of influencing pharmaceutical stocks even though he is banned for life from being involved with the industry.
The Federal Trade Commission (FTC) and attorneys general of seven states filed the request on Oct. 13 in the U.S. District Court for the Southern District of New York. They allege that Shkreli traded shares in at least 60 pharmaceutical companies and discussed their businesses and management through livestreams on YouTube and posts on X and Reddit.
“Today’s action should serve as notice that the FTC will not hesitate to enforce violations of court orders,” Daniel Guarnera, director of the FTC’s bureau of competition, said in a statement accompanying the filing….