Martin Shkreli Sued for Apparently Copying Wu-Tang Clan Album

Martin Shkreli

A case has been filed against Martin Shkreli by PleasrDAO. He allegedly copied the Wu-tang Clan album. In New York, Martin Shkreli was sued by the PleasrDAO, a digital art collective, alleging that Shkreli had broken the terms of their agreement by making unauthorized copies of the one-of-a-kind Wu-Tang Clan album “Once Upon a Time in Shaolin” and distribution the music to the public.

What The Lawsuit Claims?

The lawsuit claims that PleasrDAO bought the album in 2021 because Shkreli had previously lost it in a $7.4 million asset seizure after being convicted of securities fraud in 2018. The collective says that Shkreli has kept unauthorized copies of the album and has been sharing parts of it online, which breaks the rules of the purchase agreement and the seizure order.

The lawsuit also claims that Shkreli’s illegal sharing of the album has reduced its value, a highly valuable musical work. In response to PleasrDAO’s legal action, a federal judge in New York has ordered Shkreli to stop sharing the album immediately through a temporary restraining order. The judge is expected to consider making the order permanent later this month.

PleasrDAO is seeking both financial compensation and a court order that would force Shkreli to destroy all copies of the album and stop sharing it in the future. The collective also plans to display the album at the Museum of Old and New Art in Tasmania, Australia, and offer free, ticketed listening sessions from June 15 to 24.

Who Sued Martin Shkreli?

Martin Shkreli was sued by PleasrDAO, a digital art collective, for allegedly copying and distributing the one-of-a-kind Wu-Tang Clan album “Once Upon a Time in Shaolin” without permission.

Who was PleaserDAO?

PleasrDAO is a decentralized autonomous organization that acquires and collectively owns unique digital and physical artworks. In 2021, PleasrDAO purchased the one-of-a-kind Wu-Tang Clan album “Once Upon a Time in Shaolin” from Martin Shkreli for $4.75 million. The collective aims to preserve culturally significant pieces and share ownership among its members. PleasrDAO has gained attention for its acquisition of high-profile works and its mission to democratize art ownership through blockchain technology. The organization plans to exhibit the Wu-Tang album at the Museum of Old and New Art in Tasmania, offering free, ticketed listening sessions to the public.

Who was Martin Shkreli?

Martin Shkreli is an American investor and businessman. He was sentenced to financial crimes for which he served over six years in federal prison and was fined over $70 million. Shkreli is known for his controversial business practices, including raising the price of the antiparasitic drug Daraprim from $13.50 to $750 per pill after acquiring the manufacturing license for the drug. He was also involved in several other companies, including MSMB Capital Management, Retrophin, and Turing Pharmaceuticals, and was convicted of securities fraud and conspiracy in 2017. Shkreli was released from prison in May 2022 and has since been involved in various business ventures, including a software company and a cryptocurrency project

FAQs

Why was Martin Shkreli sued?

On allegedly copied the Wu-tang Clan album.

What seeks, PleaserDAO?

PleasrDAO is seeking both financial compensation and a court order to destroy these copies.

Who sued Martin Shkreli?

Martin Shkreli was sued by PleasrDAO, digital art collective.

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