TLDR:
- Martin Shkreli ordered to surrender all copies of Wu-Tang Clan album “Once Upon a Time in Shaolin”
- Judge grants preliminary restraining order against Shkreli in lawsuit by PleasrDAO
- Shkreli allegedly retained copies and intended to release them publicly
- PleasrDAO bought the album for $4.74 million in 2021 and 2024
- Shkreli must provide inventory of all copies and disclose any profits by September 30
A federal judge has ordered Martin Shkreli, the controversial former pharmaceutical executive, to surrender all copies of the rare Wu-Tang Clan album “Once Upon a Time in Shaolin” by August 30, 2024.
The ruling comes as part of an ongoing lawsuit between Shkreli and PleasrDAO, a group of NFT collectors who purchased the album for $4.74 million in two transactions in 2021 and 2024.
Judge Pamela Chen of the Eastern District of New York granted a preliminary restraining order against Shkreli, barring him from “possessing, using, disseminating, or selling any interest” in the album.
This includes any data, files, or other contents related to the unique recording.
The Wu-Tang Clan created “Once Upon a Time in Shaolin” in secret over six years, intending for only a single two-CD copy to exist, with no digital or streaming release. Shkreli originally purchased the album in 2015 for a reported $2 million.
The album came with a hand-carved nickel-silver box, a leather-bound manuscript containing lyrics, and a certificate of authenticity.
Despite PleasrDAO officially owning the only copy of the album, Shkreli allegedly retained copies and played portions of it during live streams.
The lawsuit filed by PleasrDAO in June 2024 claimed that Shkreli bragged about keeping copies and intended to release them to the public.
In a series of posts on social media platform X in April 2024, Shkreli reportedly claimed to have retained music files from the album, stating, “LOL i have the mp3s you moron.”
The lawsuit also alleges that Shkreli mentioned in a May podcast that he “burned the album and sent it to like, 50 different chicks.”
Under the recent ruling, Shkreli must return all copies of the album to his defense counsel by August 30 and sign an affidavit confirming he has done so.
He is also required to sign another affidavit by September 30, disclosing an inventory of all copies he has, who received them (including names and addresses), and how much money he’s made from any distribution.
Shkreli, known as the “pharma bro,” gained notoriety as the CEO of Turing Pharmaceuticals when he raised the price of the lifesaving drug Daraprim from $13.50 to $750 per pill.
He was later convicted of securities fraud and conspiracy related to his time as CEO of Retrophin, a different biotech company. In 2018, he was sentenced to seven years in federal prison and ordered to pay a $750,000 fine, along with a $7.4 million forfeiture.
The proceeds from the sale of “Once Upon a Time in Shaolin” went toward the remaining balance on Shkreli’s forfeiture. PleasrDAO purchased the album from the U.S. government after it was seized as part of Shkreli’s assets.
Steven Cooper, an attorney representing PleasrDAO, called the filing an “important victory” in a statement. “We are pleased that Judge Chen recognized that immediate relief was necessary to thwart the continuing bad acts of Mr. Shkreli,” Cooper said.
Shkreli’s lawyer, Edward Paltzik, responded to the ruling, stating,
“This Order is merely a preliminary measure entered by the Court to maintain the perceived status quo before any discovery occurs – the Order has no bearing whatsoever on the final outcome of the case.”
