Martin Shkreli Ordered to Surrender Digital Copies of Unique Wu-Tang Album

Martin Shkreli, also known as “Pharma Bro”, has been ordered to surrender any digital copies of Once Upon a Time in Shaolin, a unique Wu-Tang Clan album. This order is part of an ongoing legal dispute with PleasrDAO, a decentralized autonomous organization (DAO) that has owned the physical album since 2021. PleasrDAO purchased the album for $4.75 million from the Justice Department, which had confiscated it from Shkreli following his 2018 conviction for securities fraud.

Ownership Dispute Over Unique Album

PleasrDAO is offering partial ownership of the album through non-fungible tokens (NFTs). However, they have accused Shkreli of retaining digital copies of the album and initiated a lawsuit against him in June. On August 26, a New York federal judge ordered Shkreli to turn over all copies of the album to his legal team and sign an affidavit by August 30, stating that he no longer has any copies. Shkreli is also required to submit an inventory by September 30, detailing the copies of the album, the individuals it was shared with, and any financial gain he obtained from distributing or playing the album.

Court Order a Victory for PleasrDAO

This court order is seen as a victory for PleasrDAO, which filed for a preliminary injunction against Shkreli on August 19. The group claimed in its June lawsuit that Shkreli's retention of digital copies of the album, which he played on several livestreams, caused "significant monetary and irreparable harm" to the group. Edward Paltzik, Shkreli's lawyer, stated that the order is merely a preliminary measure to maintain the perceived status quo before any discovery occurs and that it has no bearing on the final outcome of the case.

Details about the Unique Wu-Tang Album

The Wu-Tang Clan's album was recorded between 2007 and 2013 and contains at least 31 tracks across two discs, according to a track listing released by PleasrDAO in April. In its June lawsuit against Shkreli, PleasrDAO stated that its purchase of the album was supposed to be the only copy of it. They are seeking a judge's order to permanently seize Shkreli's alleged copies and prohibit him from financially exploiting the album. Shkreli countered that the alleged copies were made under his purchase agreement when he initially bought the album before it was forfeited to the government. Therefore, he argues, the copies are not under the forfeiture and he retains the right to use them.

Bottom Line

This case highlights the complex legal issues surrounding digital ownership and rights in the era of NFTs and DAOs. It's a fascinating example of how traditional legal concepts are being challenged and redefined in the digital age. What are your thoughts on this unique legal battle? Feel free to share this article with your friends and discuss it. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.