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.
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