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The legal saga over Martin Shkreli's infamous 5,000 percent price hike of a life-saving anti-parasitic drug has ended with a flat denial from the highest court in the land.
On Monday, the Supreme Court rejected Shkreli's petition to appeal an order to return $64.6 million in profits from the pricing scheme of Daraprim, a decades-old drug used to treat toxoplasmosis. The condition is caused by a single-celled parasite that can be deadly for newborns and people with compromised immune systems, such as people who have HIV, cancer, or an organ transplant.
[...]
In a lawsuit filed in 2021, the Federal Trade Commission and seven state attorneys general accused Shkreli of building a "web of anticompetitive restrictions to box out the competition." In January of 2022, US District Court Judge Denise Cote agreed, finding that Shkreli's conduct was "egregious, deliberate, repetitive, long-running, and ultimately dangerous."Cotes banned Shkreli from the pharmaceutical industry for life and found him liable for $64.6 million in disgorgement. In January 2024, an appeals court upheld Cote's ruling.
[...]
Shkreli's lawyer filed a petition with the Supreme Court arguing that the ill-gotten profits from Daraprim's price hike went to corporate entities, not Shkreli personally, and that federal courts had issued conflicting rulings on disgorgement liabilities.In a list of orders today, the Supreme Court announced it denied Shkreli's petition to hear his appeal. The justices offered no explanation and no dissents were noted.
The denial is Shkreli's second rejection from the Supreme Court.
Previously on SoylentNews: SoylentNews Stories on Shkreli (Search Link)
Infamous Pharma Company Founded by Shkreli Files for Bankruptcy, Blames Shkreli - 20230514
Shkreli Released From Prison to Halfway House After Serving - 20220522
Judge Denies Shkreli's "Delusional Self-Aggrandizing" Plea to Get Out of Jail - 20200519
Sobbing Martin Shkreli Sentenced to 7 Years in Prison for Defrauding Investors - 20180310
FBI Arrests Shkreli of the Drug Price Hike Fame - 20151217 (That didn't take him long.)
Cost of Daraprim Medication Raised by Over 50 Times - 20150922
(Score: 2) by NotSanguine on Friday October 11 2024, @05:18AM (4 children)
Why?
Are the rulings of the trial and appeals courts lacking? And since this case was a civil suit adjacent to the criminal cases Shkreli faced, how, would you modify the lower courts' rulings if were you were a SCOTUS justice?
Please be specific. Thanks!
No, no, you're not thinking; you're just being logical. --Niels Bohr
(Score: 2, Disagree) by JoeMerchant on Friday October 11 2024, @01:24PM (3 children)
Bottom line: it's a case that deserves maximum attention due to ongoing abuse of the same laws by others.
Even if the SCOTUS ruling changed nothing, the act of taking the time to consider and rule beyond a simple rejection would be demonstrative of that importance.
🌻🌻🌻 [google.com]
(Score: 1) by khallow on Friday October 11 2024, @10:13PM (2 children)
This. I'm not in favor of encouraging nonpositive value bureaucracy. It changes nothing, then it is at best worthless to do.
(Score: 2) by JoeMerchant on Saturday October 12 2024, @02:04AM (1 child)
>encouraging nonpositive value bureaucracy
Notoriety has very high value and significant effects, thus: the money paid for advertising.
🌻🌻🌻 [google.com]
(Score: 1) by khallow on Sunday October 13 2024, @07:01PM
What about a Supreme Court endorsement will make that better rather than worse? The more you argue this, the worse it sounds.