Martin Shkreli, the disgraced former hedge fund manager and convicted felon, has agreed to drop his demands for a jury trial in a civil lawsuit seeking his lifetime ban from the pharmaceutical industry, in exchange for assurances from the attorneys general of seven states that they would not seek civil penalties or forfeiture in a case stemming from the dramatic price hike of a lifesaving drug.

In a joint stipulation filed late Tuesday, the states and Morgan, Lewis & Bockius attorneys representing Shkreli’s former firm said they had struck a deal to remove the possibility of money damages in the Federal Trade Commission-led lawsuit, which alleges anti-competitive conduct at Vyera Pharmaceuticals and its parent company, Phoenixus AG.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]