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Martin Shrekli Is Fired As CEO By Company He Saved From Certan Bankruptcy One Month Earlier
And the hits just keep on coming for "America's most hated" biotech CEO-cum-charged with fraud hedge funder, Martin Shrekli, who several days after resigning as CEO from Turing Pharma, has just been fired by his "other" recent infamous investment KaloBios, which as a reminder was trading at $1 just over a month ago when it had announced it would liquidate just before Shrekli invested several million in the insolvent biotech.
From the press release:
KaloBios Pharmaceuticals, Inc. (Nasdaq: KBIO), today announced that on December 17, 2015, Martin Shkreli was terminated as Chief Executive Officer of the Company and resigned from his position as a member of the board of directors. In addition, on December 17, 2015, Tony Chase resigned from his position as a member of the board of directors.
The irony, of course, is that KBIO was technically bankrupt a month ago, and had gone so far as announcing its liquidation when the same Martin Shrekli bailed it out with a last minute capital investment, and subsequently he proceeded to acquire 70% of the stock in an attempt to force a short squeeze.
One month later, he is no longer the CEO and while he still has his 70% of KBIO stock holdings, it is unclear when if ever he will be able to sell it, as the stock has been halted since last week and may very well never reopen.
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Well, at least he has something to put on his resume....
Company closure specialist
The much deserved backstab this fuckin puke deserves. Let's hope this is the first of many.
You can hope for that but it's not going to happen. In the rare event that the actions of government enforcement agencies coincide with justice, it is purely by accident.
"And the hits just keep on coming for "America's most hated" biotech CEO-cum-charged with fraud hedge funder, Martin Shrekli"
ZH is always full of spelling errors - understandable given the pace. No one cares. BUT (or should I say Butt)..to call him a "biotech CEO-cum-charged", well ZH, are you speculating that he'd rather be playing Find The Soap in his new Rikers Island crib than extorting the sick?
This is why you don't miss your payments to your Rabbi.
Pups like Shrekli do not end up in the general population of the state or federal facilities that carry the serial rapists and emasculators.
At worst, he might experience some heckling and uncomfortable questions during holding and transfer, or, if he is real unlucky, during protective watch at his first drop facility prior to bussing to his more relaxed, safe prison (sometimes you have to spend some days awaiting transfer).
You speak as one who possesses an intimate knowledge of the routine.
ZH is always full of spelling errors
Are you absolutely certan?
Shkreli is an inmate's wife, waiting to happen.
Instead of a wife, let's hope he's the new pass around fucktoy of the cell block. They'll trade him around for 3 cigarettes and a cup of toilet wine.
LMAO - he will now be associated wit brahs from da Shkreet
Karma at its finest . . . on to the next one.
You guys act as if he isn't into that kind of thing.
He's a little man with a psychotic need to control and manipulate everything he touches. That is what he will be stripped of, so he may enjoy the gayness but, he will hate every second of not being able to control it. I hope they televise the fucking smugness fading off that cunt face of his as he's sentenced.
The best part is, after all that butt sex he will likely get AIDS and not be able to afford the medicine that he himself inflated the price of.
He's Shkrewed.
The "Just Us" System has only 1 thought on their minds:
"He must be Shtopped".
His level of arrogance almost guarantees that they will want to make an example of him.
Yep, he's small potatoes, unpopular, and yet high profile - similar to Martha Stewart. They're ideal scalps to take for career building.
Then Shkreli had the bright idea to start talking shit to the FBI on twitter, so it's a safe bet they're going to make sport of sticking it to him.
Hero to zero in less than a week. Absolutely fantastic. As some of you veterans have aleady stated, he embarrassed the 'real' power players and they ahve railroaded him. After prison he will be running scams like NTEK and JAMN.
Absolutely. The wrong doing he's been arrested and charged with happened quite some time ago. They had this stuff just sitting on a shelf and dusted it off after he became a liability to the elites.
Shkreli.... Shkreli.... that's gotta be pure Eastern European Gypsy, right? He's not that other tribe, is he?
Martin Shkreli was born April 1, 1983,[7] the son of Albanian and Croatian immigrants who worked as janitors
*from the wookiepeediass"
I was just making a joke about the Eastern European Gypsy thing. Or so I thought.
If he own 70% of the shares then he can take his CEO position back anytime he wants and terminate the existing boad of directors.
Perhaps you missed the part about the company being bankrupt. And him going to jail.
There is a trial first. He might be going to jail or might not. Right now he is out on bail.
Trust me on this. He's going to jail. He pissed off the wrong people at the wrong time and made a bunch of elites look very bad. They're going to burn his ass to the ground.
Bankruptcy never stopped Trump from saying "you're fired!" the weasel just has to keep his shysters out of jail and arm them with his proxy, and probably an order from a judge... That last one might appear problematic, but failure to provide it could expose the State's tax serf's to paying for Shrekli's next Wu Tang album (assuming he actually currently owns 70% of the otherwise worthless equity).
Take it back while he's in the big house? LOL, he's a crook not a magician.
What happened to that Campbell dude.
He's Wall Street's version of Dr. Kevorkian. Charge me, I dare you. Didn't work out very well for Dr. K. and it won't end well for this kid either.
The unfortunate thing is this guy is such an easy target. He's hated and people love to watch the train wreck happen. Couldn't happen to a better guy.
But, it's ultimately just another distraction from the more serious issues at hand. This guy is a part of it all, but he's a miniscule little fish in a sea of corruption.
Maybe Mr. Mary Jo and her band of porn-watchers should look at Virtu. Only 1 DAY of losses in 6 YEARS - oh I know, they just must be smart right Mr. Mary, just like Bernie.
Bet this goes no where.
"High-frequency trading firm Virtu Financial is in New York Attorney General Eric Schneiderman’s sights."
http://nypost.com/2014/04/18/schneiderman-to-probe-virtus-htf-practices/
Can he sell his stock now????
The SEC halted trading, pending further investigation. It could go into the "Grey" where penny players love to promote scams, thus enabling some form of revenue recovery. But, i imagine he wont be able to.
No, it's halted. If he used stolen money (and it seems like that's all he had) to buy the company then it may never trade again.
Karma would be if this guy gets an incurable disease in jail.
You mean get aids after being ass raped by a hood rat? Karmas' a bitch, but sometimes she goes that extra mile.
Never go full scumbag. Yet, he went full scumbag.
Dictators, mass murderes, bastards that stole billions - they still at least try to keep up a face and this guy forgot this crucial lesson.
Karma..bitches
Pharma Bro
His Twitter account was hacked over the weekend and there are some pretty amazing posts as a result of the hijacking.
http://www.techinsider.io/martin-shkreli-twitter-hacked-2015-12
http://www.nydailynews.com/news/national/martin-shkreli-twitter-profile-apparently-hacked-article-1.2471952
"Hacked" is lawyer speak for my client was high on bath salts and started tweeting out loud.
he was in jail now he is real black gangster respect to the albanian/jew nigger
Those FBI guys are going to have weasel grease stench on their hands for quite some time.
This idiot is nothing more than a distraction.
Bread and circuses.
He gloated. In public. Openly. Sociopaths do that. They think they're so smart that they can't be made to follow the rules even when they flaunt their criminality. And then they get arrested because they are so DUMB as to ask for it.
Hopefully the price of those rare drugs he jacked up just because he could do it will come down out of the stratosphere now. Good example for anyone who thought they might follow his lead.
Shkreli: Biotech's Biotch
evil spirits at the helm in corporations & in politics