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The terms of Holmes's settlement included surrendering voting control of Theranos, returning 18.9 million shares to the company, a ban on holding an officer or director position in a public company for 10 years, and a $500,000 fine. [64] [65] [66] At its height in 2015, Theranos had more than 800 employees. [67]
Theranos Inc. (/ ˈ θ ɛr. ə n. oʊ s /) was an American privately held corporation [5] that was touted as a breakthrough health technology company. Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $9 billion valuation at its peak in 2013 and 2014.
Holmes settled the charges by paying a $500,000 fine, returning 18.9 million shares to the company, relinquishing her voting control of Theranos, and being barred from serving as an officer or director of a public company for ten years. [15] Balwani was in a romantic relationship with Holmes during his tenure at Theranos.
A federal judge on Friday sentenced disgraced Theranos CEO Elizabeth Holmes to more than 11 years in prison for duping investors in the failed startup that promised to revolutionize blood testing ...
In July, a jury convicted Balwani on 12 counts of fraud for his role in aiding Theranos founder and CEO Elizabeth Holmes in fraudulently promoting the Silicon Valley company to investors and patients.
Wade decision, as well as a high court decision on climate change regulation and a new development in the Theranos case. Roe overturned, Theranos trial, EPA rights: 3 legal stories to watch [Video ...
Ramesh "Sunny" Balwani (born June 13, 1965) [1] is a Pakistani-born businessman, former president and chief operating officer of Theranos, which was a privately held health technology company founded by his then-girlfriend Elizabeth Holmes.
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 ...