United States · US Securities and Exchange Commission (final judgment, US District Court for the Eastern District of New York)

Martin Shkreli: director ban

In force The SEC said the final judgment entered on 23 February 2022 imposes a permanent officer and director bar.

Grounds

The SEC said its complaint, filed on 17 December 2015, alleged that while chief executive of Retrophin and managing two hedge funds he founded, Shkreli misappropriated money from the funds and made material misrepresentations to investors. The court granted the SEC's motion for a permanent officer and director bar and ordered civil penalties of 1.392 million dollars, the SEC said.¹

Companies

Retrophin, Inc.

Record

• 17 December 2015The SEC filed its complaint in SEC v. Shkreli, No. 15-cv-7175 (E.D.N.Y.).¹
• 23 February 2022Final judgment entered, including a permanent officer and director bar and civil penalties, according to the SEC.¹
• 28 February 2022The SEC announced the judgment in Litigation Release No. 25337.¹

Sources

1. US Securities and Exchange Commission, SEC Obtains Final Judgment Against Former Pharmaceutical Company CEO Martin Shkreli (Litigation Release No. 25337) (28 February 2022)

A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.