Shkreli stepped down from Turing Pharmaceuticals LLC and was sacked from KaloBios Pharmaceuticals Inc. after he and his lawyer Greebel were first arrested a year ago. Prosecutors say he tried to hide information about his control of shares in Retrophin, another company he previously led, from shareholders.
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Shkreli and Greebel are scheduled to appear in court again on July 14.
Martin Shkreli, former CEO of Turing Pharmaceuticals LLC., smiles while flanked by Nancy Retzlaff, chief commercial officer for Turing Pharmaceuticals LLC., during a House Oversight and Government Reform Committee hearing on Capitol Hill, February 4, 2016 in Washington, DC.
Evan Greebel, Shkreli’s former lawyer, also pleaded not guilty on Monday to the new securities fraud conspiracy charge, which alleges Shkreli failed to disclose his ownership of certain Retrophin shares to the Securities and Exchange Commission. The legislation would have regulators develop an annual list of up to 15 drugs that have seen the biggest price increases. Greebel also pleaded not guilty Monday.
Martin Shkreli, co-founder of the hedge fund MSMB Capital Management, co-founder and former CEO of the biotechnology firm Retrophin Inc (NASDAQ: RTRX), and founder and former CEO of Turing Pharmaceuticals, was back in court on Monday.
Shkreli initially declined to comment as he left the courthouse.
Shkreli’s attorney has said the securities fraud prosecution is based on a “flawed theory”.
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Shkreli is expected to go to trial for his eight counts in 2016 or 2017.
