August 27th 2024.
Martin Shkreli, a former pharmaceutical executive, made headlines for his controversial actions, including raising the price of a life-saving drug. However, today, he faced a new development in his legal troubles as a US federal judge ordered him to hand over all copies of the Wu-Tang Clan's unreleased album, "Once Upon a Time in Shaolin," to his lawyers by Friday.
Judge Pamela K Chen, presiding in Brooklyn, wrote that Shkreli must not only surrender the album but also provide a list of individuals he distributed the music to and any profits he made from it by September 30. This album, often hailed as the world's rarest, was purchased by Shkreli for a whopping $4.75 million by a cryptocurrency collective called PleasrDAO in June.
The collective accused Shkreli of breaching their agreement by keeping digital copies of the album and sharing them with his social media followers. Their lawyer, Steven Cooper, expressed satisfaction with Judge Chen's ruling, calling it a significant victory for their client. He also added that the judge recognized the urgency of taking action to prevent Shkreli's continued misdeeds.
On the other hand, Shkreli's attorney, Edward Paltzik, stated that the judge's order simply maintains the current state of the lawsuit and does not determine its outcome. He pointed out that the judge did not find PleasrDAO to be likely to succeed in their claims or that their accusations were true.
The Wu-Tang Clan spent six years creating "Once Upon a Time in Shaolin" and decided to auction off the only existing copy in 2015. However, the condition was that it would not be released publicly, as the group wanted it to be seen as a piece of contemporary art. Shkreli purchased it for $2 million, but his legal troubles began when he was convicted of fraud and served time in prison.
In 2021, the album was sold to pay off some of Shkreli's court debts, and he was released from prison in 2022 after serving most of his seven-year sentence. This latest development in the ongoing legal battle between Shkreli and PleasrDAO over the rare album has sparked interest among the public. Stay updated on all the latest news, celebrity gossip, and sports updates by joining our WhatsApp channel. No algorithms, no comments, and your privacy is protected.
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