Federal Regulators Seek Contempt Ruling Against Martin Shkreli Over Industry Ban

US regulators are seeking a contempt ruling against Martin Shkreli for allegedly breaching his lifetime pharmaceutical ban.

The Federal Trade Commission and seven US states have asked a federal judge to hold Martin Shkreli in contempt. Regulators claim the pharmaceutical executive repeatedly violated a lifetime industry ban by trading shares in dozens of drug companies and commenting on their operations. Shkreli has been subject to the restriction since his release from federal prison in 2022.

• The accusationRegulators state that Shkreli traded stocks in at least 60 pharmaceutical companies and publicly discussed their businesses.
• The backgroundA 2022 court order permanently barred Shkreli from participating in the pharmaceutical sector following an antitrust enforcement action.