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In July 2016, CMS banned Holmes from owning, operating, or directing a blood-testing service for a period of two years. Theranos appealed that decision to a U.S. Department of Health and Human Services appeals board. [15] [54] Shortly thereafter, Walgreens ended its relationship with Theranos and closed its in-store blood collection centers. [55]
A federal judge on Wednesday denied a request from former Theranos CEO Elizabeth Holmes to keep customer complaints, test results, and a regulatory report out of her upcoming criminal fraud trial ...
Alleged violations included false advertisement and inaccurate blood testing. Theranos agreed to refund $4.65 million to the state's residents for Theranos blood testing services, providing a refund to every resident who had received a test, regardless of whether the test results were voided or corrected. [84] [85] [86] [87]
Theranos promised that a drop of blood could yield many health secrets. RapidEye/E+ via Getty ImagesOne of the most high-profile trials of the year is underway to decide whether Theranos founder ...
In 2018, the U.S. Securities and Exchange Commission charged Theranos and Holmes with deceiving investors by "massive fraud" through false or exaggerated claims about the accuracy of the company's blood-testing technology. Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her ...
The 37-year-old was acquitted on four other counts of fraud and conspiracy that alleged she deceived patients who paid for Theranos blood tests, too. Former Theranos CEO Elizabeth Holmes Found ...
In a four-hour closing argument, the prosecution pointed to numerous alleged misstatements about Theranos' blood-testing technology, which Holmes had suggested could perform hundreds of diagnostic ...
In late 2015, spurred by a deep investigation carried out by Eleftherios Diamandis, Carreyrou began a series of investigative articles on Theranos, the blood-testing start-up founded by Elizabeth Holmes, that questioned the firm's claim to be able to run a wide range of lab tests from a tiny sample of blood from a finger prick.