Shkreli loses bid to toss stock manipulation conviction

FILE PHOTO - Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo Allegri

(Reuters) - A federal judge on Friday refused to overturn former drug company executive Martin Shkreli's conviction of scheming to manipulate his company's stock price.

U.S. District Judge Kiyo Matsumoto said at a court hearing in Brooklyn that there was enough evidence to support a jury's verdict last August that Shkreli tried to prop up the price of shares in Retrophin Inc by directing people he knew not to sell them.