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Join the Securities Litigation and Enforcement Group on LinkedInThe Elizabeth Holmes Trial: Founder Recounts ‘Big Idea’ That Led to Creation of Theranos – WSJ
Elizabeth Holmes took jurors into the Theranos Inc. lab Monday during testimony at her criminal-fraud trial, describing ways the startup sought to reduce errors in lab testing and miniaturize traditionally bulky blood-testing machines. “We thought this was a really big idea,” Ms. Holmes said of Theranos’s attempts to remove human error from steps involved in […]
Elizabeth Holmes trial hit by new concern: losing too many jurors
When the trial started on September 8, 12 jurors and five alternates took in opening arguments and braced themselves for a trial that is expected to go until at least December. But the group entrusted with deciding the fate of Holmes — who faces a dozen federal fraud charges over allegations that she knowingly misled […]
Elizabeth Holmes Transforming From CEO to Victim for Jurors
Jurors have not been told yet about the details of the defense Holmes’s lawyers will likely present that she was subject to a “decade-long campaign” of abuse by her former boyfriend and onetime president of Theranos, Ramesh “Sunny” Balwani. Balwani has denied any abuse. Still, jurors who will decide her case are “being exposed to […]
Elizabeth Holmes’ lawyers cite negative coverage in request to expand jury selection
A 21-page motion filed late Thursday spelled out example after example of highly descriptive and unflattering stories in the past several years about Holmes. “The publicity is pervasively negative,” lawyers for Holmes said. Adding she is, “routinely referred to in derisive and inflammatory terms that are directly relevant to the wire fraud charges in this […]
California’s Covid surge forces trial delay of Theranos Elizabeth Holmes
A surge in coronavirus cases in California has led to a four-month delay in the criminal trial of Elizabeth Holmes, the former CEO and founder of embattled health tech company, Theranos. In a late Friday night order, U.S. District Judge Edward Davila set a new trial date of July 13, 2021 for the case. Source: […]
Elizabeth Holmes Theranos trial to be held in person with masks, social distancing
In what is expected to be one of the most high profile trials in years, Elizabeth Holmes will face jurors wearing clear face masks in a socially distanced courtroom, a judge said Wednesday. The trial, to begin March 9, 2021 at a San Jose federal courthouse is expected to play out over two to four […]
SEC Wins Jury Trial Against Massachusetts Man Charged in Multi-Year Insider Trading Scheme
Yesterday evening, jurors in Boston federal court returned a verdict finding that Lexington, Massachusetts restauranteur Charlie Chen engaged in illegal insider trading in advance of five earnings announcements of Lexington-based company Vistaprint, N.V. The SEC’s evidence at trial showed that Chen, who was close friends with a Vistaprint insider and her husband, received highly confidential […]
SEC Wins Jury Trial in Layering, Manipulative Trading Case
Today, jurors in New York federal court returned a verdict in the Securities and Exchange Commission’s favor against a trading firm headquartered in Kiev, Ukraine, and two individuals for their roles in an unlawful trading scheme that generated more than $25 million in illicit profit. The SEC’s evidence at trial showed that Nathan Fayyer and […]
Nobody Is That Lucky, Prosecutor Tells Insider-Trading Jury – Bloomberg
For anyone to successfully trade five times in a row on health-care mergers, they need inside information, a prosecutor told a jury in the retrial of former Perella Weinberg Partners LP managing director Sean Stewart. “Winning the lottery once takes astronomical odds, winning it five times — that doesn’t happen,” Assistant U.S. Attorney Samson Enzer […]
What’s Next for Elizabeth Holmes in the Theranos Fraud Case? – The New York Times
If Ms. Holmes and Mr. Balwani do not plead guilty, the question at a trial will be whether the two defendants were brazen liars, as the government will argue, or whether they were just as deluded as everyone else by Ms. Holmes’s vision of disrupting the health care industry. via What’s Next for Elizabeth Holmes […]