Shkreli Will Pay AT LEAST $1.5 Million, In Cash, To Those Defrauded KaloBios Stockholders…

The nearly-final figures are emerging from the US District Court filings in San Jose, California, this afternoon. Here is a bit of the 32 page (PDF file) motion for settlement, just filed:

“…As a result of these extensive efforts, Plaintiffs Lead Counsel secured a Settlement with Defendant Shkreli of one million five hundred thousand dollars ($1,500,000.00) in cash….”

This is not (so much) a reflection of how much was actually lost, in the KaloBios fraud by the stockholders. On the contrary, it is more likely just about all Marty will have left. That is, after discovery (in a very private JAMS mediation proceeding) — it tells you that he likely has almost nothing left — after paying his lawyers, his criminal forfeitures, fines and restitution — and the taxing authorities. [As well as the monies he owes Mr. Painter (pretty soon), as we’ve mentioned.]

And… if you want a rundown of everything that happened at KaloBios — here’s a link — to the full 93 page settlement agreement (now amended, to include ALL defendants) — the newest part being Mr. Shkreli’s portion — reached (as I say) after an all day JAMS mediation, last month. Marty appeared by telephone, from the Brooklyn MDC, for that one, on February 13, 2018.

Onward. Oh, and… Mr. Greebel’s request for a new trial has also been answered by the able AUSAs overnight. It too runs over 90 pages.

More bed-time reading…. Hah! Now… GO RAMBLERS!