Martin Shkreli, famously known as “Pharma Bro” for raising the price of a crucial drug, has been instructed by a federal judge, Pamela K. Chen, to surrender all versions of Wu-Tang Clan’s never-before-released album “Once Upon a Time in Shaolin” to his attorneys by Friday. The judge’s order also requires Shkreli to disclose the identities of individuals who received the music and any profits he obtained from it by September 30.
In a legal battle that ensued in June, Shkreli faced a lawsuit from a cryptocurrency group called PleasrDAO, which acquired the single existing copy of the album for $4.75 million. PleasrDAO alleged that Shkreli breached their agreement by maintaining digital duplicates of the album and spreading them widely among his social media followers.
Steven Cooper, the attorney representing PleasrDAO, stated that Judge Chen’s decision marked a significant win for their client, emphasizing the necessity of immediate action to prevent further misconduct by Shkreli. Cooper expressed satisfaction with the ruling, applauding the Judge’s stance against Shkreli’s actions.
Shkreli’s lawyer, Edward Paltzik, maintained that the judge’s directive merely preserved the ongoing lawsuit’s state and did not impact the case’s final resolution. Paltzik underscored that the judge did not make a determination regarding the likelihood of PleasrDAO’s success or the veracity of their claims.
The Wu-Tang Clan took six years to craft “Once Upon a Time in Shaolin,” offering the 31-track double album for auction in 2015 with the stipulation that it would not be publicly released, aiming for it to be regarded as a contemporary art piece. Shkreli acquired the album for $2 million before facing conviction for defrauding investors in failed hedge funds he managed.
Proceeds from the sale of “Once Upon a Time in Shaolin” in 2021 were used to settle some of Shkreli’s legal debts. After serving a significant portion of a seven-year sentence, Shkreli was released from prison in 2022.
