Several comments left yesterday mentioned this… and I was looking through the old PACER files, on Retrophin — existing case numbers — I did not realize / think to search for the motion to compel as a new suit. But it had been filed as a new suit, in Manhattan’s federal district courthouse.
We had no longer expected to be unable to know much about Marty’s arbitration, since it is immaterial to Retrophin, and arbitrations are generally not published as decisions. [See the dated graphic, at right.]
But we do now know it is being heard on June 10-25, 2019. We know it because it appears that Mr. Mulleady has been trying to avoid testifying at the arbitration:
“…The Shkreli Arbitration is scheduled for a final merits hearing for ten days between June 10 and June 25, 2019….
Mulleady was deeply involved… in Shkreli’s sham Retrophin consulting agreements….
The complaint… alleges, among other things, that Shkreli caused Retrophin to enter into settlement agreements and sham consulting agreements that were in fact for the benefit of disgruntled investors in his former hedge funds (the “MSMB Funds”) (and therefore for the benefit of Shkreli), rather than for the benefit of Retrophin; and that Shkreli allocated Retrophin shares connected with a reverse merger to two of his associates in order to gain a personal benefit for himself. The complaint seeks damages of $65 million….”
There is much more there — do go read, if you are so inclined. As detailed in this filing, the damages in this matter alone amount to a claim for $65 million, from Shkreli — by Retrophin. [Moreover, in arbitrations, often the losing party (almost certainly Marty) must pay the winners’ attorneys fees — so tack on a minimum of $5 million, to that $65 million.]
So my overall assessment that he owes some $90 million (among all the claims and suits and fines and forefeitures)…. may be on the lower side of reality.
Namaste… and g’night.