A federal judge has ruled that Martin Shkreli is prohibited from possessing or selling any copies of the one of a kind Wu-Tang Clan album, “One Upon a Time in Shaolin.” The former pharmaceutical executive must surrender all copies of the album to his legal team by Aug. 30.
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This comes just months after a temporary restraining order was issued preventing Shkreli from using, streaming or selling any interests in the album.
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Shkreli is also required to submit an affidavit by Sept. 30, detailing the whereabouts of any copies of the album.
The legal battle began when a group of investors bought the album in 2021 as part of Shkreli’s $7.4 million asset forfeiture stemming from a 2017 fraud conviction.
The investor collective argues Shkreli’s retention of copies of the album threatens its uniqueness and could jeopardize any commercial plans for it.
The lawsuit was sparked in part by claims that after his release from prison in 2022, Shkreli publicly boasted that he still possessed a copy of the album, and even live-streamed a portion of it.
The clock is ticking for Shkreli to comply with the court’s demands.
Lauren Taylor
A FEDERAL JUDGE HAS RULED THAT MARTIN SCHKRELI IS PROHIBITED FROM POSSESSING OR SELLING ANY COPIES OF THE ONE OF A KIND WU-TANG CLAN ALBUM, “ONCE UPON A TIME IN SHAOLIN.”
THE FORMER PHARMACEUTICAL EXECUTIVE MUST SURRENDER ALL COPIES OF THE ALBUM TO HIS LEGAL TEAM BY AUGUST 30TH. THIS COMES JUST MONTHS AFTER A TEMPORARY RESTRAINING ORDER WAS ISSUED PREVENTING SHKRELI FROM USING, STREAMING, OR SELLING ANY INTERESTS IN THE ALBUM.
SHKRELI IS ALSO REQUIRED TO SUBMIT AN AFFIDAVIT BY SEPTEMBER 30TH, DETAILING THE WHEREABOUTS OF ANY COPIES OF THE ALBUM.
THE LEGAL BATTLE BEGAN WHEN A GROUP OF INVESTORS BOUGHT THE ALBUM IN 20-21 AS PART OF HIS 7-POINT-4-MILLION-DOLLAR ASSET FORFEITURE STEMMING FROM A 2017 FRAUD CONVICTION.
THE INVESTOR COLLECTIVE ARGUES SHEKRELI’S RETENTION OF COPIES OF THE ALBUM THREATENS ITS UNIQUENESS AND COULD JEOPARDIZE ANY COMMERCIAL PLANS FOR IT. THE LAWSUIT WAS SPARKED IN PART BY CLAIMS THAT AFTER HIS RELEASE FROM PRISON IN 2022, SHKRELI PUBLICLY BOASTED THAT HE STILL POSSESSED A COPY OF THE ALBUM AND EVEN LIVE-STREAMED A PORTION OF IT.
THE CLOCK IS TICKING FOR SHKRELI TO COMPLY WITH THE COURT’S DEMANDS.
WE’LL BE FOLLOWING THIS CASE CLOSELY AS DEADLINES APPROACH. STAY UPDATED BY DOWNLOADING THE STRAIGHT ARROW NEWS APP SO YOU NEVER MISS A STORY.
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