A NEWLY Filed Civil Lawsuit (Against Marty) Offers An Odious “Peek Under The Hood” — At Turing (Now Vyera) Pharma….

I think this simply confirms much of what we largely long-suspected about the private company now called Vyera.

Rather than walk you through all the salacious details — and there are LOTS of them — I’ll just link the 29 pager, and quote the most innocuous bit:

On June 22, 2017, the very next day after Defendant Shkreli’s Facebook post to “Drain the [Turing executives] Swamp,” Ms. Costopoulos was stripped of all duties and authority in her capacity as Senior Vice President, Chief Compliance Officer and General Counsel of Turing. Mr. Mulleady, acting on behalf of the Company, at the direction of Defendant Shkreli and his personal attorney, Mr. Scott Vernick of Fox Rothschild (“Mr. Vernick”), advised Plaintiff that she was being placed on administrative leave pending an investigation into unspecified misconduct. A company-wide memorandum was circulated announcing the same….

Well. That was a stupid thing to do. But, that’s Marty for ya’.

Do enjoy — and a sincere hat tip — to an anonymous friend of the blog, for this!

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24 thoughts on “A NEWLY Filed Civil Lawsuit (Against Marty) Offers An Odious “Peek Under The Hood” — At Turing (Now Vyera) Pharma….

  1. R West says:

    Funny thing is, the plaintiff usually wants to be in state court unless they think there is some local bias (not likely between NY/NJ). Not sure why they wanted to file this in federal court? Martin’s side may not contest the federal jurisdiction, since a defendant normally wants to be in federal court!

    Liked by 1 person

    • condor says:

      My suspicion is they want press play — and it’s certainly easier to quote the allegations verbatim if — as we have — the entire full text record is online.

      It may also be a way of seeking out additional wronged Turing ex employees and executives.

      Onward!

      Like

      • R West says:

        This Shkreli law school course is getting really broad in scope … covers everything one might get on the bar exam!

        In New York Times v. Sullivan, the U.S. Supreme Court had jurisdiction over defamation because it involved the First Amendment – freedom of the press – so it was a federal case. To make it federal, defamation needs to invoke a constitutional issue, a federal statute, or a federal agent as the defamer. Or if she alleged violation of the federal Equal Employment Act based on sex discrimination, she could have brought her defamation claim in federal court as a pendant state claim. She didn’t do that (probably missed the 180-day deadline to file a complaint with the EEOC), so she’s relying on diversity for federal jurisdiction.

        I was just thinking, the plaintiff intentionally might want to be in federal court (where the jury pool is drawn from a wide area), because in Manhattan with a local jury Martin might still have a lot of support … you got to admit, he still has his backers! If that’s the thinking, Martin might fight the federal diversity jurisdiction even if it’s a long shot.

        Liked by 1 person

    • condor says:

      There is no way to predict how much he stands to lose — as at least three civil class actions had been stayed, during his criminal proceedings… and I am aware of at least five other claims/cases.

      A fair guess at total losses is around $90 million, but Marty likely has less than $25 million left to his name.

      As I’ve said before I think he’ll be broke when he leaves prison….

      Namaste

      Like

      • condor says:

        Not to butt in, here — but are we certain this is the SAME Edward Painter?

        I will let the link stand, but I have not verified that this is “our” Edward Painter.

        Feel free to educate me.

        Even if he (in fact) failed to follow instructions at UBS and/or Goldman, that doesn’t mean that Marty didn’t separately cheat him — as well.

        Thanks, and do stop back!

        Namaste….

        Like

      • Elena Scanteie says:

        yes, absolutely your edward homer painter. when he lost his job at UBS he started working for shkreli. i don’t know who is a bigger scum bag. check him on linkedin and see his profile. when i met him he was working for ubs

        Liked by 1 person

      • condor says:

        Okay — fair enough: Do you have any reason to believe Marty Shkreli over him? Or should we let the documents they wrote — the evidence — settle this question?

        I am not advocating Mr. Painter as a hero… but I will follow the evidence where it leads.

        Do stop back!

        Namaste….

        Like

      • condor says:

        I do hear you. I think the case will be decided by the contracts they signed — and the emails they wrote to one another.

        So there will be little need to take “the word” of either party, without additional evidence.

        And based on the language I’ve seen, in the public court filings, I think Mr. Painter was defrauded by Marty.

        Your mileage may vary. In fact, it likely does.

        Do stop back… I value intelligent and differing perspectives — like yours.

        Namaste…

        Like

  2. R West says:

    I’m guessing plaintiff is a resident of New Jersey, as she’s alleging diversity jurisdiction in federal court.

    Martin is in prison in New Jersey. Presumably he’s given up his NY apt. and receives his mail in NJ. He’s thus arguably now a New Jersey resident and citizen.

    “The existence of diversity of citizenship is determined at the time the suit is instituted, and not when the cause of action arose.”

    Therefore, plaintiff and defendant are both now arguably residents in the same state… there is no federal diversity jurisdiction … if Martin, that would be my defense!

    Liked by 2 people

    • condor says:

      Why wouldn’t we assume she still lives in NY — she was with Loeb & Loeb in Manhattan before Turing… and is now of counsel to that Manhattan office. Honors grad of Seton Hall, and honors at Rutgers… Marty is definitely “resident” in NJ for 6.5 years.

      All that said, I think she wants the media coverage to pressure Vyera’s other major stockholders to offer settlement, even if Marty and his civil lawyers won’t.

      Namaste….

      Like

      • R West says:

        2010 First Circuit case: “In cases involving prisoners, the courts presume that the prisoner remains a citizen of the state where he was domiciled before his incarceration, even if he is subsequently incarcerated in a different state. Smith, 445 F.3d at 1260 (citing [**4] Sullivan v. Freeman, 944 F.2d 334, 337 (9th Cir. 1991)). That presumption is rebuttable, however.”

        I’m pretty sure she’s assuming Martin is a NY resident and she resides in NJ, and she’s relying on this presumption that a prisoner remains a citizen of the state he was in before incarceration. But there doesn’t seem to be a Second Circuit case on point, so Martin will likely give it his best shot … he likes the weather in NJ and might stay there … and he has no NY address … one would think.

        In any event, it’s amazing what interesting legal issues have been raised between Shkreli, Greebel and the other litigants … just shows how interesting law can sometimes be!

        Liked by 1 person

      • condor says:

        Not sure that’s right… but I suppose federal question, too (federal libel and defamation claims)… namaste!

        Like

      • R West says:

        Both diversity of citizenship and >$75,000 are required.

        Don’t see the Federal question: She could allege employment discrimination based on gender, but she’s apparently not asserting an EEOC claim.

        She will probably win on the diversity issue, but if I were Martin I would nonetheless give it a shot – Judges love to get rid of cases – less work for them.

        Liked by 1 person

      • condor says:

        I hear you — but libel and slander sound as federal claims, as well as state law ones… but I last studied Fed. Civ. Pro…. nearly three decades ago, so don’t go by me!

        Namaste…. may the fourth be with you — and all of good will!

        Like

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