Replies to post #187715 on Biotech Values

[jq1234]

From 8K:

• EDNY Subpoena. In January 2015, the Company received a subpoena relating to a criminal investigation by the U.S. Attorney for the Eastern District of New York. The subpoena requests information regarding, among other things, the Company’s relationship with the MS MB Entities and Mr. Shkreli. The Company has been informed that it is not the target of the U.S. Attorney’s investigation, and intends to cooperate with the investigation.

[zipjet]

I always try to remember that people more often than not get the facts wrong.

There is less chance of that in this case, since the lawyers brought in to do the investigation and write the report should have been very careful not to over state the case.

So I take the filing to be a serious accusation. One that the SEC should investigate.

Breach of fiduciary duties are a lower standard even than the SEC action and may be available for the company to recover damages if that has not already been settled in the termination agreements.

Criminal prosecution carries the highest standard of proof and depending on the facts and the prosecutors discretion could come into play.

All very sad for me.

[martinshkreli]

Hi Guys,

This is Martin Shkreli. The 8-k is completely false, untrue at best and defamatory at worst. I am evaluating my options to respond. Every transaction I've ever made at Retrophin was done with outside counsel's blessing (I have the bills to prove it), board approval and made good corporate sense. I took Retrophin from an idea to a $500 million public company in 3 years--and I had a lot of help along the way.

I am happy to explain any transaction. I am confident that anyone who looked into the transactions would find them perfectly legal, reasonable and quite intelligent (the results of the company speak for themselves). I welcome any scrutiny by any party and have faith any investigation will be resolved without issue--it would not be the first time and it won't be the last that my moves have been looked at--this is not my first rodeo and I have too many scars to do something stupid.

By the way, it is nice to see the rational community here, and I will enjoy joining some of the discourse here on various companies and drugs.

Best,
Martin Shkreli

[dewophile]

also not a lawyer, but the SEC is a civil arm only - DOJ has to get involved if criminal charges are brought