Martin Shkreli sued for copying and distributing one-of-a-kind Wu-Tang Clan album

PleasrDAO, a digital art collective that purchased the one-of-a-kind Wu-Tang Clan album Once Upon a Time in Shaolin in 2021, has sued the record’s previous owner, Martin Shkreli, for copying and distributing the album online without permission.

The disgraced former pharma executive bought exclusive rights to Once Upon a Time in Shaolin for $2 million back in 2015, only months before he was publicly arrested - and subsequently convicted - for committing securities fraud. Sentenced to seven years in federal prison and ordered to forfeit $7.36 million, Shkreli was forced to abandon a number of valuable assets including the prized Wu-Tang Clan album. PleasrDAO purchased Once Upon a Time in Shaolin for $4 million a year before Shkreli’s release in 2022.

Filed in a Brooklyn courthouse on June 10, the lawsuit explains that Shkreli is still obligated by the initial forfeiture order to “take[s] all reasonable steps, and bear all costs necessary, to ensure that all the Substitute Assets [i.e., Once Upon a Time in Shaolin] are preserved and maintained in good and marketable condition, and are not damaged, diluted or diminished in value as a result of any actions taken or not taken by the defendant and his representatives.”

The document goes on to argue that Shkreli has violated the order by copying and distributing the Wu-Tang Clan collection publicly, thereby diminishing its value and weakening PleasrDAO’s ability to utilise the asset to its fullest extent. Less than 24 hours before the lawsuit was filed, Shkreli posted on X and admitted to sharing the album online, saying, “well @pleasrdao blocked me from their account so i think i will play the album on spaces now.”

Despite the ongoing legal battle, Shkreli has continued to post on X, mocking PleasrDAO and defending his own actions.

these super nerds are suing me 🤣🤣🤣🤣
the least crypto ethos, whitest, least culturally relevant dorks
good luck! https://t.co/Qd7D77xcsd

— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024

It was literally allowed. It was their lack of diligence that is astonishing.

— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024

Once Upon a Time in Shaolin will be featured in an upcoming art exhibition at Australia’s Museum of Old and New Art beginning this Saturday, June 15. While the album cannot be leveraged for commercial gain until 2109 - as stipulated in its initial contract - it can still be played at private listening events.