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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]
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 ...
Elizabeth Anne Holmes (born February 3, 1984) is an American biotechnology entrepreneur who was convicted of fraud in connection with her blood-testing company, Theranos. [2] The company's valuation soared after it claimed to have revolutionized blood testing by developing methods that needed only very small volumes of blood, such as from a ...
Elizabeth Holmes (L), founder and former CEO of blood testing and life sciences company Theranos, leaves the courthouse with her partner Billy Evans after the first day of her fraud trial in San ...
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 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 ...
Holmes also acknowledged she was too quick to dismiss warnings from the two former employees, Erika Cheung and Tyler Shultz, who reported that Theranos' blood-testing device — dubbed Edison ...
Holmes was acquitted on four other charges relating to patients who used Theranos' blood tests, and the jury remained deadlocked on three counts of wire fraud relating to investors.