Brooklyn, NY – A federal judge has ruled that Martin Shkreli, also known as “Pharma Bro,” must surrender all copies of the highly sought-after unreleased 2015 Wu-Tang Clan album, Once Upon a Time in Shaolin, and refrain from streaming any additional content from the record. The Wu-Tang Clan initially spent six years creating the 31-track double album, intending for it to be perceived as a work of contemporary art rather than being publicly released.
Shkreli, a former pharmaceutical executive, acquired the album for $2 million in 2015 but was forced to forfeit it after his conviction for securities fraud in 2021. Subsequently, the album was purchased by PleasrDAO, a cryptocurrency collective, for $4.75 million. In response, PleasrDAO filed a lawsuit against Shkreli, alleging that he continued to possess and distribute digital copies of the album in violation of their agreement.
Judge Pamela K Chen’s decision requires Shkreli to disclose all copies of the album, commonly referred to as the world’s rarest album, by September 30th, along with details of any individuals to whom he shared the music and any profits made from it. Steven Cooper, an attorney representing PleasrDAO, hailed the ruling as a significant triumph, emphasizing the necessity of immediate action to prevent Shkreli’s ongoing misconduct.
Shkreli’s lawyer, Edward Paltzik, emphasized that the judge’s order does not alter the overall outcome of the case and does not indicate the validity of PleasrDAO’s claims. Furthermore, the order prohibits Shkreli from possessing, distributing, or selling any part of the album, including its data and files, while also requiring a comprehensive inventory of the album’s locations and access points, along with a detailed revenue report.
Despite his seven-year sentence for fraud, Shkreli openly boasted about retaining a copy of the album in 2022 and subsequently streamed portions of it online. The judge’s decision seeks to prevent any further unauthorized use or dissemination of the album by Shkreli, underscoring the need for compliance with the court’s directives.