Martin Shkreli violated lifetime pharma industry ban, FTC and states say in contempt claim

Former drug company executive Martin Shkreli and his lead attorney Benjamin Brafman arrive at U.S. District Court for the fourth day of jury deliberations in his securities fraud trial in the Brooklyn borough of New York City, U.S., August 3, 2017. Amr Alfiky | ReutersThe Federal Trade Commission and seven states asked a federal judge on Tuesday to hold notorious "Pharma bro" Martin Shkreli in civil contempt, alleging he "flagrantly and repeatedly violated" a 2022 court order that had banned him for life from the pharmaceutical industry.The FTC and the states say Shkreli, since being released from prison in May 2022, violated that court order by "publicly trading in pharmaceutical industry stocks and broadcasting his opinions about the business and management of many pharmaceutical industry companies."FTC Commissioner Mark Meador, in a statement, said that given Shkreli's "repeated violations" of the court order, "escalating consequences for future misconduct — including financial penalties and, if necessary, incarceration — are warranted."The court order stems from a finding that Shkreli organized an anti-competitive scheme to perpetuate his company's monopoly in the anti-parasitic drug Daraprim."After a full trial, the court found that Martin Shkreli's conduct drove up prescription drug costs for American patients and blocked the entry of lower-cost generics," said Daniel Guarnera, director of the FTC's Bureau of Competition, in a statement."When judgment is entered by a court, whether it's a settlement or an order following a trial, defendants must fulfill their obligations," Guarnera said. "Today's action should serve as notice that the FTC will not hesitate to enforce violations of court orders."This is breaking news. Please refresh for updates.