As a crypto investor and member of PleasrDAO, I’m deeply concerned about the recent legal action against Martin Shkreli regarding the Wu-Tang Clan album “Once Upon a Time in Shaolin.” This rare and valuable asset was acquired by our collective for a significant investment, and we have every right to protect it from illegal copies and public releases that could severely diminish its value.
A lawsuit has been initiated by PleasrDAO, a collective organization specializing in digital art, against Martin Shkreli, who is infamously referred to as the “Pharma Bro.”
As a crypto investor and music enthusiast, I’m closely following the developments of a significant legal dispute. The crux of this battle revolves around the unique Wu-Tang Clan album titled “Once Upon a Time in Shaolin.” In 2018, after PharmaBro (Maron Shkreli) was convicted for fraud and ordered to forfeit various assets, PleasrDAO managed to acquire this rare piece for an impressive $4 million price tag.
In a federal court in Brooklyn on June 10th, PleasrDAO brought forth a lawsuit against Shkreli, alleging that he breached the rules by creating unauthorized copies of an album and publicly broadcasting it without obtaining necessary approvals. Following his 2018 fraud conviction, a court order mandated Shkreli to ensure proper upkeep of this asset and prevent any depreciation in its value.
Okay we unblocked you.
Also you’ve been served 💁♀️
— ✨ Pleasr (@PleasrDAO) June 11, 2024
Shkreli blatantly disregarded these directives, going so far as to taunt PleasrDAO on social media by announcing his intent to broadcast the album online after being barred from doing so. This action could significantly undermine the exclusivity of the album and negatively impact PleasrDAO’s potential earnings from it in the future.
As an analyst, I would rephrase the argument in the lawsuit as follows: I maintain that disseminating the album publicly would significantly devalue and damage its worth, not just for PleasrDAO but also for me as an owner. Additionally, this release could potentially tarnish PleasrDAO’s reputation. Furthermore, there are allegations that Shkreli has inappropriately profited by promoting these suspected illegal music files.
PleasrDAO is insisting that Shkreli relinquish his collection of copies, permit their confiscation, and compensate for damages, among other things. Contrarily, Shkreli has spurned the lawsuit, arguing that PleasrDAO members were denied the opportunity to cast votes on the legal action.
As a researcher examining the situation with PleasrDAO and this ongoing litigation, I’d like to point out that there has been no record of the DAO community having voted or engaged in discussions regarding this legal matter. Given this lack of involvement from the members, it seems unlikely that PleasrDAO will be able to successfully navigate through this legal proceeding. Furthermore, based on my observations, it appears that the sentiments among the community are not supportive of this course of action. I look forward to following the developments in court.
— Martin Shkreli (e/acc) (@MartinShkreli) June 11, 2024
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2024-06-12 03:49