Legal Fees Have Theranos Running On Financial Fumes As It Settles Latest Lawsuit
The most recently settled case was filed by investors who allege that Theranos made false and misleading statements about its technology.
The Wall Street Journal:
Theranos Settles Investor Suit As Funds Run Low
Theranos Inc., running on financial fumes, settled a suit filed by investors who had alleged they were defrauded by the blood-testing firm. The pact ends a civil case brought by Robert Colman, a former Silicon Valley investment banker, and other plaintiffs who made indirect investments in Theranos, court records filed Friday show. They alleged that Theranos made false and misleading statements about its technology. The company previously reached costly settlements with a major investor and its former retail partner Walgreens Co., and settled civil fraud allegations by the Securities and Exchange Commission in March without admitting or denying wrongdoing. (Weaver, 7/22)