Martin Shkreli Ordered To Surrender Digital Copies Of Wu-Tang Clan Album

According to Cointelegraph, Martin Shkreli has been ordered by a New York federal judge to surrender any digital copies of the Wu-Tang Clan album 'Once Upon a Time in Shaolin' amid a legal dispute with PleasrDAO. The decentralized autonomous organization (DAO) acquired the physical album in 2021 for $4.75 million from the Justice Department, which had seized it following Shkreli's 2018 conviction for securities fraud. PleasrDAO, which is selling partial ownership of the album via non-fungible tokens (NFTs), alleged that Shkreli retained digital copies and sued him in June. On August 26, the judge mandated that Shkreli must hand over all copies of the album in any form to his lawyers and sign an affidavit by August 30 confirming he no longer possesses any copies. Additionally, Shkreli is required to file an inventory by September 30 detailing the album's copies, the individuals it was shared with, and any financial benefits derived from distributing or playing the album. This order is considered a victory for PleasrDAO, which had filed for a preliminary injunction against Shkreli on August 19. The DAO claimed in its lawsuit that Shkreli's retention and distribution of digital copies caused significant monetary and irreparable harm. Shkreli's lawyer, Edward Paltzik of Bochner PLLC, stated that the order is a preliminary measure to maintain the status quo before any discovery occurs and does not affect the final outcome of the case. Paltzik emphasized that the court did not find PleasrDAO's allegations likely to succeed on the merits and allowed Shkreli's motion to dismiss to proceed without delay. PleasrDAO shared news of the court order on social media, implying control over Shkreli through a meme. The Wu-Tang Clan album, recorded between 2007 and 2013, contains at least 31 tracks across two discs, as revealed by a track listing released by PleasrDAO in April. In its lawsuit, PleasrDAO seeks a judge's order to permanently seize Shkreli's alleged copies and prevent him from financially exploiting the album. Shkreli argued that the copies were made under his original purchase agreement and are not subject to forfeiture, claiming he retains the right to use them.