On January 14, 2022, a federal judge ordered pharmaceutical executive Martin Shkreli to return $64.6 million worth of profits he made from hiking the price of the lifesaving drug, Daraprim, and banned Shkreli from ever working in the industry again.
U.S. District Judge Denise L. Cote said in her opinion that Shkreli, often known as “Pharma Bro,” violated state and federal laws as a result of his scheme to preserve a monopoly for Daraprim, which is used to treat parasitic infections and HIV. The ruling followed a seven-day bench trial, which featured live testimony from Vyera Pharmaceuticals employees (Shkreli’s former company), generic drug manufacturers, and expert witnesses. Shkreli, who is currently serving a seven-year prison sentence on an unrelated federal conviction, did not attend the trial.
The lawsuit was brought in January 2020 by the Federal Trade Commission and New York’s attorney general and was later joined by six additional states.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Georgia and Pennsylvania.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
To schedule a free consultation with our attorneys and to learn more about your legal rights, call our offices today at (877) 247-4292 or (212) 983-9330.
About Kristyn Fields
Kristyn Fields' practice is focused on antitrust litigation. Kristyn is a Senior Associate in the firm's New York office.Prior to joining F&F, Kristyn interned for the Honorable Martin Marcus, New York Supreme Court, Bronx County. As well, Kristyn participated in the Brooklyn Law Incubator & Policy Clinic providing pro bono counsel to emerging start-up companies. While at Brooklyn Law School, Kristyn served as an Executive Articles Editor of the Brooklyn Journal of Corporate, Financial & Commercial Law. Also, Kristyn was a member of the Moot Court Honor Society.Kristyn earned her J.D. from Brooklyn Law School (2016). Kristyn earned her undergraduate degree from Boston College (B.A., Political Science, 2013).Kristyn is licensed to practice law in New York.
Kristyn Fields
Partner at Faruqi & Faruqi, LLP
New York office
Tel: (212) 983-9330
Fax: (212) 983-9331
E-mail: kfields@faruqilaw.com
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