9 Stories

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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... More »

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,... More »

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.... More »

9 Stories