DIRS.INFO The most relevant business & tech news

☆ FTX's victims may get all their money back. The judge sentencing Sam Bankman-Fried might not care.
▼ + stars: | 2024-03-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Sam Bankman-Fried bilked FTX customers out of over $8 billion, according to prosecutors. AdvertisementAccording to federal prosecutors, Sam Bankman-Fried orchestrated one of the biggest criminal frauds in the history of the world. According to his lawyers, FTX's customers might get all their money back. According to prosecutors, Bankman-Fried was responsible for more than $11 billion in fraud overall between FTX customers and investors in FTX and Alameda Research. The recovered calculations, too, distort how much money customers are actually getting back.

Persons: Sam Bankman, —, Fried, FTX, John J, Ray III, Ray, Lewis Kaplan, Kaplan, Sarah Krissoff, Cozen O'Connor, Krissoff, it's, Sarah Silbiger, Bankman, bitcoin, Rachel Maimin, Lowenstein Sandler, Barbara Fried, Mark Cohen, Jane Rosenberg Bankman, Maiman, Maimin, Caroline Ellison Organizations: Service, FTX, Bankman, Alameda Research, US, United States, Second Circuit, U.S . House Financial, Capitol, Reuters, K5 Global, Prosecutors, Wall, REUTERS, Business, of Prisons, Alemda Research Locations: FTX, Manhattan, New Jersey, New York, Washington , U.S

☆ Ghislaine Maxwell's lawyers to argue for Jeffrey Epstein associate to be freed from prison in long-awaited appeal hearing
▼ + stars: | 2024-03-12 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Ghislaine Maxwell's lawyers are arguing for her release in a federal appeals court. The appeal focuses on a non-prosecution agreement between Jeffrey Epstein and federal prosecutors. A jury in Manhattan federal court found Maxwell guilty on sex-trafficking charges in December 2021, four days after her 60th birthday that Christmas. Alison Nathan, the judge who oversaw Maxwell's trial, sentenced her to 20 years in prison and issued a $750,000 fine. AdvertisementManhattan federal prosecutors have argued they were free from any restrictions set by the deal between Florida's federal prosecutors and Epstein.

Persons: Ghislaine, Jeffrey Epstein, Maxwell, —, Ghislaine Maxwell —, Epstein, Alison Nathan, Nathan, Maxwell weaponized, Epstein —, isn't, Jeffrey Epstein's, Harvey, Rudy Giuliani, John M, Leventhal, Diana Fabi Samson, Maurene Comey, missteps, Scott David, Ghislaine Maxwell, Laura Menninger, Jane, Jane Rosenberg, Joe Biden, Cuban, Virginia Giuffre, JP Morgan Chase, Carolyn Andriano Organizations: Service, disbarment, Justice Department, US Department of Justice, Reuters, US, Appeals, ricochet, Deutsche Bank, US Virgin Islands, Prosecutors Locations: Manhattan, Tallahassee , Florida, New York, Florida, United States, Washington, US Virgin

A New York judge on Thursday rejected a bid by Donald Trump to delay a $83.3 million civil defamation judgment in favor of writer E. Jean Carroll. Trump had asked Manhattan federal court Judge Lewis Kaplan to pause the latest Carroll case judgment until after he rules on post-trial motions. He later posted $5.6 million in cash as collateral while he appealed the jury verdict ordering him to pay her $5 million in that case. Trump last month was ordered by a state court judge to pay a $454 million judgment in a civil business fraud lawsuit filed by New York Attorney General Letitia James. But that soon could change if an appeals court declines to stay the judgment.

Persons: Donald Trump, E, Jean Carroll, Carroll, Trump, Lewis Kaplan, Alina Habba, Kaplan, Steven Cheung, Cheung, Zak Sawyer, Goodman, Letitia James Organizations: Greensboro Coliseum, Trump, Republican, Circuit, White, New York Locations: Greensboro , North Carolina, A, York, New York, Manhattan

☆ Hawaii's Supreme Court cites 'The Wire' in ruling bashing firearm access: 'The thing about the old days, they the old days'
▼ + stars: | 2024-02-08 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

Hawaii's Supreme Court ruled there's no "state constitutional right to carry a firearm in public." The court's opinion said the US Supreme Court's 2022 concealed carry ruling "unravels durable law." AdvertisementThe Hawaii Supreme Court quoted the influential television series, "The Wire," in a ruling on Wednesday bashing gun ownership. Hawaii's Second Circuit Court agreed with Wilson's legal team, but Hawaii appealed the decision to its supreme court. AdvertisementThe creator of the highly acclaimed show, David Simon, highlighted the Hawaii Supreme Court's homage to his work in a post on X Thursday morning.

Persons: —, Christopher Wilson, Justice Todd Eddins, Slim Charles, David Simon Organizations: HBO, Service, York, Hawaii Supreme Locations: Hawaii's, there's, Hawaii, Hawaiʻi

☆ New York AG pushing for lifetime Trump ban cites Martin Shkreli ruling
▼ + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, exits court in New York, US, on Wednesday, Oct. 4, 2023. What does former President Donald Trump have in common with "Pharma bro" Martin Shkreli? A penchant for harshly trolling their enemies online and an attorney general who wants both of them banned for life from their preferred business. The ruling stemmed from an antitrust lawsuit James, the Federal Trade Commission, and six other states filed against Shkreli. James, in that case, asked Judge Arthur Engoron to ban Trump for life from the New York real estate industry and to bar his sons, Donald Trump Jr. and Eric Trump, from that sector for five years, along with fining them $360 million.

Persons: Martin Shkreli, Donald Trump, Pharma bro, Letitia James's, James, Judge Arthur Engoron, Donald Trump Jr, Eric Trump, Engoron, Colleen Faherty Organizations: Turing Pharmaceuticals AG, Pharma, New York, Shkreli, Trump, U.S, Circuit, New York federal, Federal Trade Commission, New Locations: New York, Manhattan, Fed

☆ E. Jean Carroll is taking Trump to trial over defamation and sexual abuse. Again. Wait, what?
▼ + stars: | 2024-01-13 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

Read previewFormer President Donald Trump will once again go to trial over his sexual abuse of E. Jean Carroll. Here's what to expect from the second Carroll trial:AdvertisementWhy is Trump going to trial again for Carroll's allegations, anyway? He ruled that Trump doesn't get a re-do on Carroll's sexual abuse claims. Kaplan also ruled that it was fine for Carroll's lawyers to say that Trump "raped" Carroll. At a press conference following closing arguments in a different Trump trial, the former president told journalists he would attend the Carroll trial.

Persons: —, Donald Trump, Jean Carroll, Hot, Carroll, Trump, Goodman, didn't, Diddy, Jamie Foxx —, Joe Tacopina, Justice Department —, Lewis Kaplan, defaming Carroll, Kaplan, Will Trump, Charles Malkus, Ashlee Humphries, Humphries, Rudy Giuliani's Organizations: Service, Trump Organization, New York Attorney, Business, Trump, Carroll, Justice Department, Trump's, Justice, New York Penal Locations: Manhattan, Trump, New York, York, Carroll

☆ 2 prominent conservative judges have quashed an investigation into their former clerk — and friend of Clarence Thomas — for texting 'I hate black people'
▼ + stars: | 2023-11-03 | by ( Jack Newsham | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThe federal courts have spiked an investigation into racist text messages sent by a conservative activist-turned-law clerk who got jobs working alongside two federal judges with the full-throated support of Clarence Thomas . She also landed clerkships with two federal judges — Judge Corey Maze, a federal district judge in Alabama, and Judge William Pryor, an influential appellate judge. Last year, a federal judicial panel ordered that an investigation take place into whether Clanton actually sent the texts. After finishing law school, Clanton clerked for Maze, a federal judge in Anniston, Alabama from 2022 to 2023. Judge Debra Livington, the Second Circuit's chief judge, wrote in 2022 that Judges Pryor and Maze simply concluded that the New Yorker's reporting wasn't true.

Persons: Crystal Clanton, Clarence Thomas, —, Charlie Kirk's, Donald Trump's, Clanton, Clarence, Ginni Thomas, Corey Maze, William Pryor, Pryor, Maze, William Hodes, Clarence Thomas's, Mediaite, George Mason University's Antonin Scalia, Thomas, Pryor didn't, Jane Mayer, Judge Pryor, clerkships, Debra Livington, she'd, Charlie Kirk, Gabby Fe, Jack Newsham Organizations: Service, Fox News, New Yorker, Washington Post, Starbucks, George Mason University's Antonin Scalia Law School, Atlanta, Circuit, Appeals, Media, Second Circuit, Judicial, Judicial Conference, Yorker Locations: Alabama, America, Anniston , Alabama, New York

☆ Opinion | The Supreme Court’s Social Media Cases Can Strengthen Our Democracy
▼ + stars: | 2023-10-31 | by ( Jameel Jaffer | ) www.nytimes.com time to read: +3 min

Some officials’ social media accounts have become vital forums for speech relating to those officials’ exercise of government power, and for speech about public policy more broadly. Those two lawsuits are about government officials’ use of social media. Two of the cases concern the constitutionality of social media laws enacted by Florida and Texas. Both states’ laws also require the platforms to provide explanations to users whose posts the platforms take down. A threshold question the court will have to answer is whether platforms’ content moderation policies reflect the exercise of editorial judgment, since editorial judgment is protected by the First Amendment.

Persons: they’re, Donald Trump, Trump Organizations: U.S, Appeals, Second, Supreme Court Locations: Florida, Texas

☆ The Supreme Court just rejected an effort to get rid of rent stabilization in New York
▼ + stars: | 2023-10-02 | by ( Eliza Relman | ) www.businessinsider.com time to read: +3 min

The Supreme Court refused to hear a case challenging New York's rent stabilization law. AdvertisementAdvertisementThe US Supreme Court on Monday refused to hear a case challenging New York State's rent stabilization laws covering one million households in New York City. The plaintiffs — the Rent Stabilization Association, the Community Housing Improvement Program, and individual landlords — filed their suit in 2019 after New York reformed its 1969 law, adding new limits to how much landlords can raise rent. This is the second time since 2012 that the Supreme Court has refused to hear a case challenging New York's rent stabilization laws. And there's also Supreme Court precedent in support of tenants — specifically the 1992 case Yee v. City of Escondido in which the court upheld a California eviction restriction.

Persons: —, they've, there's, Yee Organizations: Service, New York, Rent Stabilization, Housing, Circuit, City of Locations: York, New, New York City, City, City of Escondido, California

☆ Trump loses bid to delay E. Jean Carroll rape-defame case, but granted expedited appeal
▼ + stars: | 2023-09-13 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

E. Jean Carroll reacts as she exits the Manhattan Federal Court following the verdict in the civil rape accusation case against former U.S. President Donald Trump, in New York City, May 9, 2023. A federal appeals court on Wednesday denied a bid by Donald Trump to delay a defamation lawsuit by the writer E. Jean Carroll, but granted him an expedited appeal on the question of whether he can claim absolute presidential immunity as a defense. Barring further action by that appeals court or the Supreme Court, the second of Carroll's suits remains scheduled for trial in mid-January in U.S. District Court in Manhattan. In the pending suit headed to trial, Carroll alleges Trump defamed her in 2019 when he, as president, first made statements denying her claim of rape. The DOJ also noted that Trump's allegedly defamatory statements about Carroll continued after he left the White House in January 2021.

Persons: Jean Carroll, Donald Trump, Carroll, Trump, Carrol, Robbie Kaplan, Kaplan, Goodman, Trump's Organizations: U.S, Wednesday, 2nd Circuit, Trump, Circuit, Department of Justice, DOJ, Washington , D.C, ., White Locations: Manhattan, New York City, New York, U.S, Washington ,

☆ Nearly 400 people still missing after Maui fires
▼ + stars: | 2023-08-25 | by ( Deon J. Hampton | ) www.cnbc.com time to read: +3 min

A general view shows damage in the fire ravaged town of Lahaina on the island of Maui in Hawaii, U.S., August 15, 2023. MAUI, Hawaii — The County of Maui on Thursday night released the names of nearly 400 people who remain officially unaccounted for, two weeks after a devastating wildfire swept through the island. The 388 names were compiled by the Federal Bureau of Investigation and deemed validated with first and last names, county officials said. In a statement Thursday, Hawaiian Electric said its focus in the aftermath of the fires has been to support the people of Maui and Maui County. "We are very disappointed that Maui County chose this litigious path while the investigation is still unfolding," it said.

Persons: John Pelletier Organizations: Federal Bureau of Investigation, Police, Authorities, Hawaiian Electric Co, Hawaiian Electric, Electric, EPA, NBC Locations: Lahaina, Maui, Hawaii, U.S, MAUI, The County, West Maui, Maui County

☆ Rosemary S. Pooler, Federal Judge and Consumer Defender, Dies at 85
▼ + stars: | 2023-08-19 | by ( Sam Roberts | More About Sam Roberts | ) www.nytimes.com time to read: +1 min

Rosemary S. Pooler, a lifelong champion of consumer rights who broke barriers by becoming the first woman to serve as a state and federal judge in two upstate New York districts, died on Aug. 10 at her home in Syracuse, N.Y. She was 85. Her death was announced by the United States Court of Appeals for the Second Circuit, where she had sat since 1998. Judge Pooler got her start defending consumers when she was appointed chairwoman and executive director of New York State’s Consumer Protection Board by Gov. Hugh L. Carey in 1975. When she was a civil rights lawyer, Judge Pooler, a committed feminist, represented two fellow members of the National Organization for Women who in 1970 successfully challenged the century-long men-only policy of McSorley’s Old Ale House in Manhattan.

Persons: Rosemary S, Judge Pooler, Hugh L, Carey Organizations: United States, Appeals, Second Circuit, New York, Consumer, Gov, National Organization for Women, Ale Locations: New York, Syracuse, N.Y, Manhattan

"Mr. Trump has not provided a single reason for the court to find that there is any likelihood that he will succeed on appeal," Kaplan wrote. Circuit Court of Appeals in Manhattan could order Trump to pay damages and costs to Carroll if it found his appeal frivolous. "The only purported harm Mr. Trump reasonably may claim he would suffer in this case would be having to stand trial," the judge wrote. The case is Carroll v. Trump, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Editing by Alistair Bell and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: District Judge Lewis Kaplan, Elle, Jean Carroll, Joe Tacopina, Donald Trump, Carroll, Trump, E, Jean Carroll's, Kaplan, Alina Habba, Roberta Kaplan, Goodman, Jonathan Stempel, Alistair Bell, Jonathan Oatis Organizations: District, U.S, Circuit, Trump, Court, Southern District of, Thomson Locations: New York, U.S, Manhattan, Southern District, Southern District of New York

☆ SEC punts on whether syndicated loans are securities, in closely watched appeal
▼ + stars: | 2023-07-19 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Law firm alerts have gone so far as to call the appeal an “existential threat” to the entire syndicated loan market. The SEC later added to the suspense by requesting two more extensions from the 2nd Circuit, noting the complexity of the issue. On the other hand, any remaining uncertainty will be resolved as soon as the 2nd Circuit issues a ruling. But it’s a good bet that the trustee's lawyers from McKool will urge the 2nd Circuit to read the SEC’s silence as proof of the complexity of the issue. An earlier version incorrectly reported that Judge Michael Park was part of the 2nd Circuit panel that heard oral argument.)

Persons: Cromwell, JPMorgan Chase, Marc Kirschner, Paul Gardephe, Manhattan, Gardephe, McKool Smith, Jose Cabranes, Joseph Bianco, Myrna Perez, ”, Malcolm Stewart, Christopher Johnson, McKool, SEC wouldn’t, Michael Park, Alison Frankel, Leigh Jones Organizations: Sullivan, U.S . Securities, Exchange Commission, U.S, Circuit, SEC, 2nd, JPMorgan, Millennium, U.S . Justice Department, District, Trading Association, Securities Industry, Financial Markets Association, Justice Department, U.S . Treasury Department, Thomson, Reuters Locations: U.S .

June 15 (Reuters) - The U.S. Senate on Thursday narrowly confirmed civil rights lawyer Nusrat Choudhury to the U.S. District Court for the Eastern District of New York, making her the first Bangladeshi-American and female Muslim federal judge in the United States. Choudhury, the legal director of the American Civil Liberties Union (ACLU) of Illinois, was confirmed on a 50-49 vote. She will also be the first Bangladeshi-American federal judge. Biden also appointed the first Muslim judge in U.S. history, U.S. District Judge Zahid Quraishi. The Senate confirmed him to the New Jersey federal trial court in 2021.

Persons: Nusrat Choudhury, Choudhury, Joe Biden, Chuck Schumer, litigator, Biden, Zahid Quraishi, Jacqueline Thomsen, David Bario, Aurora Ellis Organizations: U.S, Senate, Eastern, of, American Civil Liberties Union, ACLU, Top, Republicans, Princeton University, Southern District of, Appeals, Thomson Locations: of New York, United States, Illinois, Southern District, Southern District of New York, New York , Connecticut, Vermont, New Jersey, Washington

☆ An Appeals Court Gave the Sacklers Legal Immunity. Here’s What the Ruling Means.
▼ + stars: | 2023-05-31 | by ( Jan Hoffman | ) www.nytimes.com time to read: +1 min

In exchange, they have agreed to make payments of up to $6 billion to thousands of plaintiffs in now-suspended lawsuits. The ruling was part of a court review of a bankruptcy restructuring plan for Purdue, which filed for Chapter 11 protection in September 2019. Companies in bankruptcy customarily get protection from legal claims; owners who have not filed for personal bankruptcy usually do not. When the company filed for bankruptcy, the Sacklers faced about 400 lawsuits over their role in Purdue’s opioid business. Legal experts say that the ruling, by the United States Court of Appeals for the Second Circuit, has implications for the Purdue case specifically and for owners of companies seeking bankruptcy generally.

Persons: Sackler Organizations: Purdue Pharma, Purdue, Companies, United States, Appeals, Second Circuit

☆ Judge dismisses another lawsuit against Ed Sheeran
▼ + stars: | 2023-05-18 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +3 min

The suit was filed in 2018 after SAS unsuccessfully tried to join in as a plaintiff in the Townsend family’s suit. Still, the legal battle over “Thinking Out Loud” is not over for Sheeran and his co-defendants. Representatives for Sheeran declined to comment on Stanton’s dismissal of the case. Another lawsuit that splintered from the original SAS suit against Sheeran and his co-defendants is also still pending in Manhattan federal court. Pullman says the sound recording of “Let’s Get It On” coupled with its sheet music, both of which are registered with the US Copyright Office, will prove their case against Sheeran.

Musk has litigated with the SEC for years over the consent decree, which was revised in 2019 after the SEC charged Musk with making "false and misleading" statements in his Aug. 2018 "funding secured" tweets. The agreement required "pre-approval" for tweets by Musk that contained information material to Tesla, and which extended to "certain senior executives," according to the judgment. A February letter from Musk attorney Alex Spiro said the terms of the consent decree, which was revised in 2019, amounted to "unconstitutional" infringement of his free speech rights. Far from being "bad-faith," the court wrote that "each tweet plausibly violated the terms of the consent decree." Musk was found "not liable" in a February securities fraud trial over his "funding secured" tweets.

New York CNN —A federal judge on Wednesday denied a request by Manhattan District Attorney Alvin Bragg’s office for a temporary restraining order to stop a House Judiciary Committee subpoena of former prosecutor Mark Pomerantz. District Judge Mary Kay Vyskocil said Pomerantz must appear for a deposition as the House panel investigates Bragg’s recent indictment of former President Donald Trump. Bragg’s office says it will appeal. During the hearing, an attorney for Bragg’s office argued – unsuccessfully – that Pomerantz ignored cautions from the DA before publishing the book, so the district attorney’s office should not be penalized. The clash between federal and state powers began in March when Jordan asked Bragg’s office for documents and communications after news organizations reported that Bragg’s office was moving closer to seeking to indict Trump.

[1/3] Former U.S. President Donald Trump departs from Trump Tower to give a deposition to New York Attorney General Letitia James who sued Trump and his Trump Organization, in New York City, U.S., April 13, 2023. Circuit Court of Appeals in Manhattan, which had last September asked the Washington court for guidance on local law. Alina Habba, a lawyer for Trump, said in an email: "We are confident that the Second Circuit will rule in President Trump's favor and dismiss Ms. Carroll's case." Carroll, 79, has long accused Trump of stalling to keep jurors from ever hearing her case. The case is Trump et al v. Carroll, District of Columbia Court of Appeals, No.

☆ Court refuses to answer if Trump can be sued for comments he made about rape accuser E. Jean Carroll while in office
▼ + stars: | 2023-04-13 | by ( Ashley Collman | ) www.businessinsider.com time to read: +4 min

The court said it could not answer whether federal law protects Trump from being sued in the case. The case has now been sent back to the Second Circuit Court of Appeals. But when Trump appealed that decision to the Second Circuit Court of Appeals, that court struck down Kaplan's ruling. Thursday's ruling does not apply to Carroll's second lawsuit against Trump, which is scheduled to go to trial April 25 in Manhattan federal court. Carroll's second lawsuit also includes a defamation claim for comments Trump made after he left the White House.

☆ SEC rebuffs Elon Musk's attempt to get out of 'funding secured' settlement
▼ + stars: | 2023-02-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

When the SEC charged him with civil securities fraud in response to those tweets, Musk and Tesla settled, signing a revised consent decree in 2019. As part of the settlement, Tesla and Musk each agreed to pay $20 million fines, and Musk agreed to relinquish his role as chairman of the board at Tesla for three years. Among other terms, Musk agreed to a "Twitter sitter," colloquially speaking. With the appeal in the Second Circuit, Musk is trying to unwind at least some terms of the earlier SEC settlement agreement. The SEC lawyers also questioned whether there is any legal basis to consider undoing the settlement all these years later.

☆ Istanbul bourse trading halted for second time with benchmark index down 7%
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Trading on the Istanbul stock market was halted for a second time on Tuesday as a market-wide circuit breaker kicked in following heavy losses in the wake of Monday's devastating earthquake in Turkey and neighbouring Syria. The second circuit-breaker was issued at 1004 GMT, with the benchmark BIST-100 index (.XU100) down 7.01% and the banking index down 6.41%. The stock market said trading was due to resume at 1034 GMT. The magnitude 7.8 quake that hit Turkey and Syria early on Monday toppled thousands of buildings and left thousands of people injured or homeless. ($1 = 18.8285 liras)Reporting by Gdansk newsroom; Editing by Susan Fenton and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Trump faces October trial in New York after dropping final bid to dodge Letitia James' $250 million fraud lawsuit
▼ + stars: | 2023-01-24 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Trump on Tuesday withdrew his last appeal of New York's three-year probe of the Trump Organization. The withdrawal clears the way for an October trial in Attorney General Letitia James' $250 million fraud lawsuit. Trump's federal appeal had sought to revive a December 2021 federal lawsuit that he'd hoped would end what he described as James' politically biased attack on the Trump Organization. The Manhattan DA had separately tried the Trump Organization criminally, and a Manhattan jury found the company guilty of a payroll tax-fraud scheme in December. Trump has a Thursday deadline to file an answer to James' lawsuit.

☆ FTC calls on federal court to hold ‘pharma bro’ Martin Shkreli in contempt
▼ + stars: | 2023-01-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —The Federal Trade Commission on Friday called for a federal court to hold “Pharma Bro” Martin Shkreli in contempt after Shkreli allegedly flouted a recent FTC investigation into his business dealings and failed to make a $64.6 million payment he owed for his prior wrongdoings. The FTC’s contempt motion follows what the agency described as its an unsuccessful attempt to verify whether Shkreli has violated a court order barring him from ever working in the pharmaceutical industry again. Shkreli also infamously raised prices for the life-saving medication Daraprim by 4,000% while he was head of Turing Pharmaceuticals. When the FTC emailed Shkreli to get documents from him and to schedule an interview about the matter, Shkreli repeatedly missed deadlines and allegedly slow-walked his responses, according to an FTC court filing Friday. The FTC also said Shkreli had been ordered to make his multimillion-dollar payment — representing a refund of his ill-gotten Daraprim gains — by March 6, 2022.

Search resuls for: "Second Circuit"

25 mentions found