Martin Shkreli, the former pharmaceutical executive known as “Pharma Bro” for his controversial price hike of a life-saving drug, has been ordered by a federal judge to hand over all copies of Wu-Tang Clan’s unreleased album, “Once Upon a Time in Shaolin.” Judge Pamela K. Chen in Brooklyn issued the order on Monday, stating that Shkreli must provide his lawyers with the album and disclose the names of anyone he distributed it to by September 30th. Additionally, he must report any revenues he received from it.
The legal action against Shkreli was initiated by PleasrDAO, a cryptocurrency collective that purchased the only known copy of the album for $4.75 million. They accused Shkreli of violating their agreement by retaining digital copies and sharing them with his social media followers.
PleasrDAO’s attorney, Steven Cooper, expressed satisfaction with Judge Chen’s ruling and described it as an important victory for their client. On the other hand, Edward Paltzik, representing Shkreli, stated that the judge’s order merely maintained the current state of affairs in the lawsuit and did not determine its final outcome.
The Wu-Tang Clan spent six years creating “Once Upon a Time in Shaolin,” intending for it to be viewed as contemporary art rather than released publicly. In 2015, they auctioned off a single copy of this 31-track double album under strict conditions. Shkreli acquired it for $2 million before facing legal troubles related to investment fraud.
In 2021, “Once Upon a Time is Shaolin” was sold to partially satisfy some of Shkreli’s court debts. After serving most of his seven-year sentence in prison, he was released in 2022.
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