Walgreens Wants Its $140M Back From Theranos

Elizabeth Holmes says she'll 'respond vigorously' to breach of contract suit
By Arden Dier,  Newser Staff
Posted Nov 9, 2016 10:07 AM CST
Walgreens Wants Its $140M Back From Theranos
This Nov. 2, 2015, file photo shows Elizabeth Holmes.   (AP Photo/Jeff Chiu, File)

(Newser) – Theranos has yet another lawsuit on its hands. Walgreens wants $140 million in damages—reportedly the same amount it invested in Theranos—after it had to close the Theranos blood-testing centers at 40 of its stores, according to a breach of contract suit filed under seal on Tuesday because of a non-disclosure agreement, per the Verge. Walgreens blames Theranos for the failed deal, claiming it misled Walgreens about its pinprick technology even after it came under fire last year, reports the Wall Street Journal.

Theranos CEO Elizabeth Holmes isn't taking the suit lightly. "We will respond vigorously to Walgreens' unfounded allegations, and will seek to hold Walgreens responsible for the damage it has caused to Theranos and its investors … through its mishandling of our partnership and now this lawsuit," she says in a statement. "Over the years, Walgreens consistently failed to meet its commitments." Theranos also faces lawsuits from patients who claim its technology caused health issues, including heart attacks, reports Bloomberg. (Read more Theranos stories.)

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