Yep. This is going to end badly, for Mr. Shkreli. [And almost word for word in the way we predicted, too.]
The FTC just weighed in, to put the lie to Martin's claims about "one missed voicemail" -- and his otherwise "full cooperation".
Obviously, the truth is a very long horseback ride away from where Martin left it.
And so, the FTC just said so by way of a formal, filed reply, to USDC Judge Cote.
But Exhibit D to that filing (mostly redacted and sealed). . . contains the best bit, at the last unredacted page, at the bottom.
There we read that a Delaware LLC called "SHKRELI FAMILY HOLDINGS LLC" has a controlled company in its family. That controlled company (likely a wholly-owned subsidiary) is called. . . yep: Druglike, Inc., a Delaware corporation.
This, after Martin filed a sworn pleading about ten days ago in Manhattan saying he has no position, or ownership interest in Druglike. But Exhibit D also includes his employment offer letter / contract from Druglike, dated as of October 14, 2022.
Now, it is possible, given the various redactions and sealings, that only his family members (and not Martin himself) hold legal title to the shares of Druglike, through that LLC.
But his injunction was crystal clear -- his effective beneficial ownership via family members and employment letter signed by one Marek Biestek (for Druglike), make out a plain, and likely continuing, violation of the terms of his court orders in the FTC matter.
Damn.
The main question now is what will Judge Cote order as remedies -- sitting as a court of equitable contempt.
Does she send him back inside for a couple weeks -- to make sure he remembers who is boss?
We shall see.
नमस्ते
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