American investor Martin Shkreli is embroiled in a new legal battle over allegations that he retained and shared recordings from a unique Wu-Tang Clan album. This comes after he was compelled to sell the album following his 2017 conviction on securities fraud charges.
The lawsuit, filed on Monday by the cryptocurrency collective PleasrDAO, claims that Shkreli violated their agreement by keeping digital copies of the album and distributing them widely. PleasrDAO had purchased the only known copy of the album, “Once Upon a Time in Shaolin,” from Shkreli for $4.75 million.
The album, which has never been released to the public, was auctioned off by the iconic hip-hop group in 2015 as a rare contemporary art piece. In the lawsuit filed in Brooklyn, New York, federal court, PleasrDAO accuses Shkreli of boasting on social media about sharing the digital recordings with “thousands of people.”
Over the weekend, Shkreli reportedly played portions of the album during a livestream he hosted on X, referring to it as a “Wu-Tang official listening party,” according to the lawsuit. Shkreli did not respond to requests for comment.
This lawsuit is the latest twist in the saga of an album created to protest the devaluation of music in the streaming era. Shkreli, infamous for drastically increasing the price of a life-saving drug and adopting the “Pharma Bro” persona, was forced to sell the album after his conviction on securities fraud charges.
The album, encased in a hand-crafted silver and nickel case and accompanied by a 174-page leather-bound book, was sold to PleasrDAO in two transactions in 2021 and 2024. PleasrDAO claims they believed Shkreli had destroyed any digital traces of the album’s files.
“Any dissemination of the Album’s music to the general public greatly diminishes and/or destroys the Album’s value, and significantly damages PleasrDAO’s reputation and ability to commercially exploit the Album,” the lawsuit states.
As of last month, the album was set to be displayed at Australia’s Museum of Old and New Art, which planned to host private listening sessions featuring select tracks from the album starting this week.
Shkreli’s legal troubles continue to mount as PleasrDAO seeks to have him destroy any remaining copies of the album and forfeit any money he may have made from sharing it. They are also seeking compensatory and punitive damages.
Shkreli, who was released from prison on May 18, 2022, has made several public statements about the album. In a livestream shortly after his release, he admitted to playing “Once Upon a Time in Shaolin” for his followers, saying, “Yeah, that’s the Wu-Tang album for all you crazy streamer people.”
In subsequent livestreams, Shkreli allegedly admitted to still having a copy of the album and playing it on YouTube. He even claimed to have made MP3 copies, stating, “Of course I made MP3 copies, they’re like hidden in safes all around the world… I’m not stupid. I don’t buy something for two million dollars just so I can keep one copy.”
Earlier this year, Shkreli appeared to taunt PleasrDAO directly. After the collective posted a photo of the album on Twitter, Shkreli allegedly replied with comments like, “LOL I have the mp3s you moron” and “I literally play it in my discord all the time.”
In a YouTube video from May, Shkreli claimed he “burned the album and sent it to like, 50 different chicks,” before making a crude joke. He later posted on X, “look out for a torrent im sick of this shit @PleasrDAO.”
As recently as this past Sunday, Shkreli allegedly played the album during a “Spaces” session on X to an estimated 4,900 listeners.
PleasrDAO is asking the court to compel Shkreli to destroy his copies of “Once Upon a Time in Shaolin” and forfeit any profits from sharing the album. They are also seeking compensatory and punitive damages.
Shkreli, unfazed by the lawsuit, responded to PleasrDAO’s post about the complaint on X, saying, “PleasrDAO never voted or discussed this litigation with members. You will easily lose this legal retardation. The pleasr members don’t support this gayness. See you in court!”
Neither Shkreli nor a representative for the Wu-Tang Clan immediately returned requests for comment.
The lawsuit comes just days before the Museum of Old and New Art in Tasmania, Australia, opens an exhibition featuring “Once Upon a Time in Shaolin.” The exhibit will run from June 15 through 24, with selections from the album played during 30-minute listening sessions offered twice a day.
