Theranos Inc. and its founder Elizabeth Holmes agreed to settle U.S. allegations that they raised more than $700 million from investors through an elaborate fraud in which they exaggerated or made false statements about their technology,…
The young founder of the blood analysis company was a billionaire on paper but her promises never materialized.
The company fell from grace after it was discovered that its proprietary technology was not being used in its blood tests.
Bloodbath continues for Theranos execs in new fraud charge
Federal agency calls disgraced firm, which allegedly deceived investors of $700m, ‘an important lesson for Silicon Valley’
It has been pretty obvious for a few years now that Theranos Inc. was a huge fraud. Theranos is a blood-testing startup that developed devices, which it called "TSPUs" and "miniLabs," that were supposed to be able to do a wide range of…
Ms. Holmes, the chief executive of the blood-testing company, agreed to a settlement in which she will be stripped of control.
The Securities and Exchange Commission said Wednesday that it has charged Theranos Chief Executive Elizabeth Holmes with fraud and forced the company’s founder to give up control of the company.