[U] Monday July 10, 2017: Trial Journal Open Thread

UPDATED: Hat tip to FTD — from Bloomberg, reporting today!

…Kocher also questioned Shkreli’s dual roles, handling what was left of his hedge fund clients’ money while running Retrophin.

“I am also aware that you manage both companies, which seems to be a conflict of interest if our hedge fund doesn’t benefit from Retrophin,” he wrote.

Shkreli didn’t immediately reply to Kocher’s questions and at one point rebuffed him, replying he was “busy running the company,” referring to Retrophin.

Asked by a prosecutor for his reaction to Shkreli’s delays, Kocher told jurors: “I don’t think it mattered to him. It was more about what he could get away with….”

[End, updated portion — with no word on what the morning’s cross examination of Mr. Su covered.]

The witnesses for the prosecution will continue today — with cross examination of Mr. Jackson Su by the defense up first (I believe).

Feel free to add your thoughts and links.

If I get time, after a FINRA arbitration — I may add some more filled in thoughts, on the discussion in comments to prior posts — about how FDA seems poised to regulate Turing’s (and thus Shkreli’s) “business” model (to the extent price gouging can ever be called a business model) out of existence.

We shall see. Onward, now one and all — of good will… keep it flowing in good karma, even as we get drenched here in the city of big shoulders.



12 thoughts on “[U] Monday July 10, 2017: Trial Journal Open Thread

  1. bmartinmd says:

    The CNBC write-up: http://www.cnbc.com/2017/07/10/investor-thought-martin-shkreli-was-like-character-out-of-rain-man.html.

    On the stand, Kocher burns Shkreli’s cross-examining lawyer:
    “I spent five months trying to get a settlement, and then I spent as much as five months trying to sell the stock,” Kocher said. “I’m sure my time is not worth as much as your time,” Kocher said to Agnifilo, but added that his time nonetheless is worth money.

    Ouch. Uh, no more questions, your honor.

    Liked by 1 person

    • FTD says:

      Yikes, now we are moving on to witnesses who really paint the character of martin & this pattern of abuse where it concerns *borrowing* money & taking investors for granted.

      Here’s a multi faceted question that would be fascinating to know: How much money has Martin *BORROWED* in his entire professional career? How many people know that they are owed money? Finally, Are there records going back to the beginning? 🙂

      Liked by 1 person

  2. bmartinmd says:

    It seems there has been little Twitter interest in the usual reporters’ live tweets from the Shkreli trial. As a result, have they been pulled from attending for other stories?

    Liked by 1 person

    • FTD says:

      It is a casualty of martin being a quasi internet meme, not quite at the level to generate hour to hour coverage.

      Or Maybe everyone forgot the trial was today 🙂


    • condor says:

      Truly spitballing here — but it could be that there is some sidebar… I doubt that the able judge has closed the court to the press.

      But there are no new orders on file as of 2:30 pm Eastern, in PACER.

      Odd, indeed. Maybe his 15 minutes are… UP!

      Hooray, if so!


  3. FTD says:

    What the FDA has waited for is the failure of man when it comes to price fixing. Human nature never fails when you don’t have any safety measures for the public. There always is a excuse like “Insurance will cover it, everyone will get their medicine” “R& D is expensive, we are finding ways to improve human life” or my personal favorite “Would you rather have a socialist system of medicine?”

    When these are your go to excuses, we are approaching the end cycle of a con that has been going on for decades.

    Good riddance to the hucksters and apologists. 🙂

    Liked by 1 person

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