Daily Archives: March 16, 2018, 8:58 am

Will the Theranos ‘indirect’ investor lawsuit break new legal ground?

The SEC’s complaint against Theranos and Holmes focused on alleged lies to investors who put money directly into the company. Those insiders were only part of the market for Theranos, though. To the extent the company’s multibillion-dollar valuation reflected investor demand for a stake in Theranos’ purportedly revolutionary – and widely publicized – technology for blood testing, it rested on…

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SEC called Theranos fraud ‘massive’ — but didn’t get the company or its founder to admit guilt – MarketWatch

The Securities and Exchange Commission on Wednesday said Theranos committed a “massive” financial fraud, “raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.” What the SEC did not get from either Theranos or company founder Elizabeth Holmes was an admission of…

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