Blood Testing Startup Theranos Engaged In ‘Series Of Lies,’ Investor Alleges In Lawsuit
A San Francisco-based hedge fund that invested $96 million in Theranos is now suing the company.
The Wall Street Journal:
Major Investor Sues Theranos
One of Theranos Inc.’s biggest financial backers has sued the embattled startup and its founder for allegedly lying to attract its nearly $100 million investment, according to a fund document and people familiar with the matter. Partner Fund Management LP, a San Francisco-based hedge fund, filed the suit in Delaware Court of Chancery Monday afternoon, a letter to the hedge-fund’s investors says. (Weaver, 10/10)
San Francisco Business Times:
Major Theranos Investor Sues, Accusing It Of 'Series Of Lies' And Securities Fraud
A San Francisco hedge fund has reportedly sued Theranos, accusing it of lying to get a $100 million investment, and that those lies amounted to securities fraud. (Schubarth and McDermid, 10/11)