Cryptocurrency collective named PleasrDAO on Monday filed a lawsuit against Martin Shkreli, the notorious “Pharma Bro” and convicted securities fraudster, for allegedly retaining and disseminating digital copies of a one-of-a-kind Wu-Tang Clan album, “Once Upon a Time in Shaolin.” 

The album, which has never been released to the public, was purchased by PleasrDAO from Shkreli for $4.75 million after he was forced to sell it following his 2017 conviction.

According to the lawsuit, Shkreli violated the terms of the sale by keeping digital copies of the album and sharing them with his social media followers. The plaintiffs point to Shkreli’s recent comments on social media, where he boasted about sharing the digital recordings with “thousands of people” and even hosted a “Wu tang official listening party” livestream on X.

PleasrDAO claims in the lawsuit that they purchased the album in over two transactions in 2021 and 2024, paying approximately $4 million and $750,000 respectively, for what’s supposed “to constitute the sole existing copy of the record, music, data and files, and packaging,” with the understanding that Shkreli had destroyed any trace of the album’s digital files. But of course, we’re talking about Martin “Pharma Bro” Shkreli, possibly one of the biggest jerks alive.

The dissemination of the album’s music to the general public, they argue, greatly diminishes its value and damages PleasrDAO’s reputation and ability to commercially exploit the unique artwork.

The lawsuit marks the latest development in the unusual story of “Once Upon a Time in Shaolin,” an album created by the Wu-Tang Clan to protest the devaluation of music in the streaming era — the irony, sadly, seems to be lost on Shkreli. He purchased the album, originally packaged in a hand-crafted silver and nickel case and accompanied by a 174-page leather-bound book, at auction before his conviction.

Shkreli has now been banned from streaming or disseminating the album.

PleasrDAO has loaned the album to the Museum of Old and New Art in Tasmania, Australia where 30-minute selections from the album will be played over 30-minute listening sessions during an exhibit set to be run from June 15 to 24.

Information for this story was found via Robert Freund on X, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.