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'Pharma bro' Martin Shkreli sues Retrophin directors, ex-general counsel for more than $30 million from prison in Pennsylvania

1-6-2019 < Blacklisted News 35 188 words
 

Notorious “pharma bro” Martin Shkreli on Friday sued two directors and the ex-general counsel of his former biopharmaceutical company Retrophin, accusing them of using fraud to oust him as head of the firm in 2014.


Shkreli’s lawsuit, which was filed in federal court in Manhattan, is seeking damages of more than $30 million.


It was lodged within days of the 36-year-old Shkreli being transferred to a new prison in Pennsylvania, where he will continue serving a seven-year sentence for securities fraud related to his two defunct hedge funds and to Retrophin, which he founded after the funds financially collapsed.


The named defendants in the case are Retrophin’s chairman of the board of directors, Gary Lyons, former company CEO Stephen Aselage, who currently is a director, and the firm’s former top lawyer, Margaret Valeur-Jensen.


“After starting a biopharmaceutical company from scratch and turning it into a successful enterprise worth hundreds of millions of dollars, Mr. Shkreli was unceremoniously and illegally ousted from the company at the hands of Defendants,” the suit claims.


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