Pharma exec Martin Shkreli sues Retrophin directors from prison

Disgraced former pharmaceutical company executive Martin Shkreli, currently serving a seven-year prison sentence for defrauding investors, has sued two directors and a former general counsel of Retrophin, the pharmaceutical company he founded, according to CNBC.

Mr. Shkreli, who gained notoriety for inflating the price of a lifesaving anti-infection drug by 5,000 percent overnight, is accusing the directors and ex-general counsel of using fraud to oust him as top executive in 2014.

The lawsuit, filed in Manhattan federal court, is seeking more than $30 million in damages.

The lawsuit names Gary Lyons, Retrophin's chairman of the board of directors; Stephen Aselage, the former company CEO and current director; and the firm's former top lawyer, Margaret Valeur-Jensen.

"After starting a biopharmaceutical company from scratch and turning it into a successful enterprise worth hundreds of millions of dollars, Mr. Shkreli was unceremoniously and illegally ousted from the company at the hands of defendants," the suit reads, according to CNBC.

Read the full report here.

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Mallinckrodt to spin off generics unit

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