‘Pharma Bro’ Martin Shkreli Sued by PleasrDAO

It looks like Martin Shkreli cannot keep himself out of legal trouble. He was previously convicted of securities fraud because of stock manipulation when he served as the CEO of Turing Pharmaceuticals.

Now, he is being sued by PleasrDAO for his notorious online behavior, which has possibly caused PleasrDAO monetary losses. PleasrDAO is an on-chain community that collects physical and digital art and donates to charitable causes.

During Shkreli’s previous securities conviction, PleasrDAO acquired a one-of-one Wu-Tang Clan album, ‘Once Upon a Time in Shaolin,’ as he had to liquidate his assets. Shkreli previously bought it for $2 million, and PleasrDAO bought it for $4.75 million through an auction liquidating Shkreli’s possessions.

Wu-Tang Clan put out this album as a single copy – which PleaseDAO currently holds – to counter the commercialization of music. Thus, the album holds tremendous value. But Shkreli has apparently ruined its value for PleasrDAO when he made a copy of the album sometime before his conviction and recently played it to his followers on a live stream.

Shkreli went ahead with this decision because PleasrDAO had blocked him on X. And in an X post, PleasrDAO wrote, “Okay we unblocked you. Also you’ve been served ,” with a copy of their formal complaint attached.

Okay we unblocked you.

Also you’ve been served https://t.co/6UxhZckJPs pic.twitter.com/z8PVAsvNMO

— Pleasr (@PleasrDAO) June 11, 2024

The complainant read, “The Album was supposed to constitute the sole existing copy of the record, music, data and files, and packaging. It now appears, however, that Shkreli improperly retained copies of the data and files at the time of the forfeiture and has released and/or intends to release them to the public.”

Shkreli took to his usual trolling on X to mention that PleasrDAO did not take a vote on bringing this lawsuit, and it will not stand in court.

PleasrDAO never voted or discussed this litigation with members. You will easily lose this legal retardation. The pleasr members don’t support this gayness. See you in court! https://t.co/AH1pWTDQWC

— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024

PleasrDAO further posted that they would release the album to the masses “in a way that honors the Wu-Tang Clan and gets them paid while circumventing the streaming oligopoly…”

Our master plan is to release the music to the public in a way that honors the Wu-Tang Clan and gets them paid while circumventing the streaming oligopoly; every action we are taking is in service of that mission.

— Pleasr (@PleasrDAO) June 11, 2024

Image by Sergei Tokmakov, Esq. https://Terms.Law from Pixabay

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