Theranos and its CEO, Elizabeth Holmes, are being sued by investors who claim Holmes lied about the company’s technology as the startup raised funds. The lawsuit, filed in California, names two shareholders who are seeking class-action status. They include Robert Colman, a co-founder of Robertson Stephens , the San Francisco investment bank.
Theranos, the revolutionary blood testing company founded by Stanford dropout and Silicon Valley wonder Elizabeth Holmes, is having a bad year. The company is under investigation for securities fraud, in June its pharmacy chain partner Walgreens broke ties and shut down all …
An ex-customer of Theranos, located in Arizona, filed a class-action suit against the biotech company for faulty blood testing conducted at a blood draw location inside Walgreens. The man, initialed only as R.C. is also suing the pharmacy chain. …
Palo Alto-based Theranos is in the midst of a class-action lawsuit after the company revealed in May the results of thousands of its blood tests had to be thrown out because of unreliable results. Theranos, according to its website, gets its name from a combination of the words therapy and diagnosis. The company collects blood using a finger-stick device it called Edison, which …
A class-action lawsuit could be the newest trouble facing the blood-testing start-up. Somehow, things just keep getting worse for Theranos.
“The right action is, if you have a problem that happened from people that you were responsible for, you go solve it. You don’t walk away from it. You take it head-on,” he says.