‘Pharma Bro’ Shkreli Reaches $28 Million Class Action Settlement

Martin Shkreli, a colleague, and his former company Vyera Pharmaceuticals LLC will pay up to $28 million to resolve class action litigation over their alleged scheme to gouge consumers on a potentially lifesaving anti-parasitic drug, according to a federal court filing in Manhattan.

The settlement, docketed in the U.S. District Court for the Southern District of New York, is related to a $40 million antitrust deal the company and the colleague, Vyera ex-CEO Kevin Mulleady, reached with the government in December, according to the motion for preliminary settlement approval.

“Pharma bro” Shkreli, the pharmaceutical industry’s imprisoned enfant terrible, was also ...