Martin Shkreli, better known as Pharma Bro for his price-gouging antics with AIDS medication Daraprim, is going to have to defend against claims of misappropriating trade secrets with the unique Wu-Tang Clan album, Once Upon a Time in Shaolin. Earlier this week, US District Court Judge Pamela Chen wrote in a decision that Shkreli has to face a lawsuit that accuses him of improperly saving copies and playing the one-of-a-kind album for followers, which reduced its value and exclusivity.
The lawsuit was filed by PleasrDAO — which, according to its own website, is a collective of people involved with cryptocurrency, NFTs and digital art. Once Upon a Time in Shaolin has a strange ownership history, starting with Shkreli purchasing the one-of-one studio album in 2015 for $2 million. After a fraud conviction, Shkreli had to forfeit his assets, including the album, leading to PleasrDAO acquiring it in a government auction for $4 million.
On top of the album’s highly exclusive nature, it has a condition where it can’t be “commercially exploited for 88 years” by any subsequent owners. The collective’s argument stems from claims that Shkreli admitted in livestreams that he made copies of the album and played it for his followers, even allegedly posting “LOL i have the mp3s you moron” in response to a member of PleasrDAO posting a photo of the album. If PleasrDAO wins the case, Shkreli will have to give up any copies of the album, as well as provide info on all copies, who they were distributed to and what profits he made from it.
