/biz/ - Business & Finance

>>13561444

>In 2007, Lehman Brothers sued Elea in New York state court for failing to cover a 'put option transaction' in which Shkreli bet the wrong way on a broad market decline. When stocks rose, Shkreli didn't have the funds to make the bank whole. In October 2007, Lehman Brothers won a $2.3 million default judgment against Shkreli and Elea, but Lehman collapsed before it could collect on the ruling.

Basically if it weren't for Lehman going down during the financial crisis, we would have never heard from Shkreli again. He is a 'literally who' that lucked out and spent the next decade trying to flex on people by becoming an e-celeb.