Martin Shkreli faces new regulatory trouble. The Federal Trade Commission and seven states have filed a complaint against him. They say he should be held in contempt of court.
The complaint alleges Shkreli influenced biopharma stock prices. Regulators claim his actions violated a previous court order. That order barred him from working in the pharmaceutical industry.
Shkreli gained fame as the former CEO of Turing Pharmaceuticals. He raised the price of a life-saving drug by more than 5,000 percent. That move earned him the nickname “Pharma Bro.”
He was later convicted of securities fraud and sentenced to prison. He was released in 2022. Since then, regulators say he has remained active in biopharma markets.
The FTC argues Shkreli used social media and other platforms to move stock prices. The agency claims he did so without proper disclosure. Seven states joined the complaint to strengthen the case.
Regulators want the court to enforce the earlier ban. They seek penalties for the alleged violations. The case could set a precedent for how banned executives interact with markets.
Shkreli has not yet publicly responded to the latest filing. The court will decide whether to hold him in contempt. A ruling could lead to fines or further restrictions.
