Theranos

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This Is the End for Beleaguered Theranos
Stick a Fork in Theranos
Sep 5, 2018 8:29 AM CDT

Stick a Fork in Theranos

Blood-testing firm aims to turn over assets, cash within a year

(Newser) - Last one out, shut off the lights: A Silicon Valley darling before investors lost $1 billion , blood-testing firm Theranos will soon be no more. After years of scandal and failed attempts to sell the company, its cash dipped too low, according to a $65 million loan agreement with Fortress Investment...

Theranos Founder Indicted on Federal Wire Fraud Charges

The rise and fall of Elizabeth Holmes is a cautionary tale for young tech entrepreneurs

(Newser) - Federal prosecutors have charged Theranos Inc. founder Elizabeth Holmes and former president and COO Ramesh Balwani with two counts of conspiracy to commit wire fraud and nine counts of wire fraud, reports the Wall Street Journal . They allege Holmes and Balwani defrauded investors, doctors, and patients out of millions of...

Things May Get Worse for Elizabeth Holmes
Worst Part
of Theranos
Scandal Isn't
SEC Fraud
the rundown
Mar 15, 2018 9:40 AM CDT

Worst Part of Theranos Scandal Isn't SEC Fraud

It's duping actual patients, writes Bloomberg columnist

(Newser) - She was the first female founder of a Silicon Valley startup to become a billionaire before it all came crashing down. Now Elizabeth Holmes' personal fortune is gone , and she has just settled with federal regulators who say her company, Theranos, lied to investors about its supposedly revolutionary blood-testing equipment....

Theranos Founder Elizabeth Holmes Charged With Fraud

She's agreed to settle allegations she misled investors

(Newser) - The self-made billionaire once called the next Steve Jobs was charged with "massive fraud" for "deceiving investors" Wednesday, USA Today reports. Elizabeth Holmes founded Theranos in 2003 at the age of 19 and raised over $700 million from investors. But the Securities and Exchange Commission says Holmes and...

Theranos Offers Investors Very Unusual Deal

Troubled firm will offer extra shares to investors if they don't sue

(Newser) - The founder of troubled blood-testing firm Theranos is giving up some of her stake in the company in a bid to prevent yet more lawsuits, reports the Wall Street Journal . Elizabeth Holmes is offering investors up to two extra shares for every one they own in return for a promise...

Theranos Lays Off 40% of Remaining Workers

Embattled firm is focusing on new device

(Newser) - In what Theranos is calling a a "further re-engineering of the company's operations," the company is firing around 40% of its employees just a few months after another huge round of job cuts . The firm, which is battling sanctions and numerous lawsuits over problems with its pinprick...

George Shultz's Grandson Behind Downfall of Theranos

Tyler Shultz says relations between him and former secretary of state haven't been the same since

(Newser) - A protective grandson outraged at what he saw at his workplace spurred the downfall of Theranos, and the Wall Street Journal has what Vanity Fair is calling a "devastating piece" on the whole affair. The man in question: Tyler Shultz, who in 2014 first noticed things were amiss—specifically...

Walgreens Wants Its $140M Back From Theranos

Elizabeth Holmes says she'll 'respond vigorously' to breach of contract suit

(Newser) - Theranos has yet another lawsuit on its hands. Walgreens wants $140 million in damages—reportedly the same amount it invested in Theranos—after it had to close the Theranos blood-testing centers at 40 of its stores, according to a breach of contract suit filed under seal on Tuesday because of...

Investor Sues: Theranos 'Knowingly and Repeatedly Lied'

Partner Fund Management wants its $96M returned

(Newser) - Just when you thought things couldn't get worse for Theranos, this: One of its major investors has sued the company and its founder, Elizabeth Holmes, in an effort to get back its $96 million investment and then some. Partner Fund Management argues "the defendants engaged in securities fraud...

Theranos to Shut Labs, Lay Off 340 Workers

Its founder was already banned from owning labs

(Newser) - After scandal and sanctions, Theranos says it is shutting down all of its blood-testing labs and laying off hundreds of workers. "We have moved to structure our company around the model best aligned with our core values and mission," Elizabeth Holmes, the embattled medical technology firm's founder...

A Lone Quote Helped Doom Once-Bright Silicon Valley Star
 

A Lone Quote
Helped Doom
Once-Bright
Silicon Valley Star
in case you missed it
Sep 11, 2016 3:47 PM CDT

A Lone Quote Helped Doom Once-Bright Silicon Valley Star

Vanity Fair digs into the fall of Elizabeth Holmes' Theranos

(Newser) - The rise and fall of Theranos , the company that promised to "change the world" with its ability to test for all kinds of diseases from just a pinprick of blood, gets a thorough retelling in Vanity Fair . In the piece, Nick Bilton writes that founder Elizabeth Holmes created an...

Theranos Can't Stop Getting in Trouble With FDA

This time for its Zika test

(Newser) - And the hits keep on coming for medical technology company Theranos . In an attempt to move on following a federal criminal investigation into its laboratories, Theranos announced it was submitting a Zika blood test for emergency-use authorization at the start of August, the Washington Post reports. Theranos claimed it successfully...

Theranos Chief Banned From Running Labs for 2 Years

Elizabeth Holmes swears company will rebuild Calif. lab 'from ground up' despite feds' sanctions

(Newser) - It's been a rocky road of late for biotech company Theranos and its beleaguered founder, Elizabeth Holmes, and a new major roadblock has now emerged, the Wall Street Journal and AP report. Per a press release issued Thursday evening, the company announced it received a notice from the Centers...

Blows Keep Coming: Theranos Gets Dumped by Walgreens

Troubled startup loses main link to customers as drugstore chain pulls plug

(Newser) - Theranos has just lost its main link to consumers in what can only be described as the latest blow to the crumbling startup. Walgreens announced Monday that all 40 of its Theranos Wellness Centers in Arizona drugstores will be closed immediately "in light of the voiding of a number...

Jennifer Lawrence to Play Disgraced Biotech Boss

She's signed on for Theranos movie

(Newser) - It could be a blood-testing blockbuster: Jennifer Lawrence has signed on to play 32-year-old biotech startup founder Elizabeth Holmes in a movie about the wild ride of Theranos, Deadline reports. The company, which claimed it could test blood with a single finger prick , recently saw its value plummet from $9...

Forbes Says This Young Billionaire Now Worth Nothing

Magazine says Theranos founder Elizabeth Holmes' net worth is gone

(Newser) - The golden child of the biotech world has lost her luster—and her entire fortune. "Last year, Elizabeth Holmes topped the Forbes list of America's Richest Self-Made Women ," Forbes pointed out Wednesday, noting it had rejiggered the $4.5 billion attributed to her last year: "Today,...

Feds Prod Theranos in Criminal Probe

SEC, DoJ now involved in investigations into blood-testing company

(Newser) - A success story gone sour has taken a new turn for Theranos and founder Elizabeth Holmes, with the SEC and the US attorney's office for the Northern District of California now conducting criminal investigations to determine whether the blood-testing company misled investors and others about its technologies, CNNMoney reports....

Stories 61 - 77 | << Prev