Tag: Theranos

Complaints spark two federal investigations for Theranos
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Complaints spark two federal investigations for Theranos

PALO ALTO, CALIF -- Bad news for billionaire Elizabeth Holmes and her company Theranos. According to Ars Technica,  Therano 's is now  under two separate federal investigations following new rounds of accusations published in the Wall Street Journal earlier this week.  Therano 's has faced a barrage of incriminating accusations since October that it illegally deceived its customers about -- products and its services -- and never told the truth about some of its blood testing capabilities. Therano's initially gained prominence and bouts of skepticism earlier this year after it claimed that it could, perhaps,  perform a multitude of tests with just a few drops of blood (something generally unheard of).   Media reports at the time questioned the claims made by Therano's and founder Elizabe...
Therano ‘s fires back in open letter following latest WSJ offering
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Therano ‘s fires back in open letter following latest WSJ offering

That further accuses the company of even more wrong-doing. Beginning in October,  Therano 's was viciously accused of deceiving the public about a number of its products and the way it does business. The accusations came from unconfirmed and shaky sources via The Wall Street Journal, some of which, published an even more damning set of accusations on 21 December. Since, Therano 's has come out in defense of itself citing that they're "fully cooperating" with regulators and are "sure that nothing of the kind will be found".  Therano 's claimed in an open-letter ironically published in the Wall Street Journal that it was "not unusual for disgruntled employees to provide accusations after termination of employment to humiliate their employer". Via The Wall Street Journal
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Here’s the worst part of Elizabeth Holmes’ shocking fall from grace

The elaborate lie that Theranos built itself on, perhaps, is the same lie in which brought that ship crashing down.  This is where it gets interesting. Earlier this week,   we were among the first to report that the SEC charged Holmes with massive fraud and barred her from  performing duties as a director of any publicly traded company. Now there are some new twists. As we first reported, along with multiple other outlets, she must pay $500,000 in fines; lose her company, and iwll not be able to serve again as she did for at least a decade.  The move sort of drew criticism from all sides of the spectrum, considering, the depth in which her lies actually went. Holmes knowingly deceived investors;  actual patients, but most of all, patients.   Innocent patients who were hoping for ...
Therano ‘s lays off 40% of its remaining staff
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Therano ‘s lays off 40% of its remaining staff

Once a world renowned company for the thought that it was created by a woman and it revolutionized the way that we have to get blood taken, er, has now fallen from grace.    According to reports, Therano 's CEO Elizabeth Holmes has reportedly laid off  40% of the company's remaining staff in a  bid to "focus on other products and bring the company back to its former reputation". Last year, Therano 's came under heavy fire for allegations that it falsified documents about its own blood ticking machines that aren't actually what they say they are. Therano 'sswiftly denied the allegations but the fall-back was almost instant. Companies including Wal Greens; CVS, and numerous others pulled Therano 's products and miniature storefronts from their stores all together.  
Theranos is in trouble with the FDA once more
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Theranos is in trouble with the FDA once more

A company that can't seem to stay out of trouble. According to The Washington Post,   Theranos apparently submitted federal regulatory documents for a Zika test. The problem? Per the documents Theranos claimed that the tests were an emergency-style test for those infected by the deadly Mosquito virus. Regulators say that some of those tests are in clear violation of FDA standards, mostly, because they weren't coinciding with regulator-ordered safety protocols for patients actually administered the test in the first place.
The real truth about Elizabeth Holmes and her Theranos’ fortune
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The real truth about Elizabeth Holmes and her Theranos’ fortune

LOS ANGELES --  Yesterday, saw one particular article see publication that quickly drew criticism. Forbes, published an article on none other than Therano 's CEO Elizabeth Holmes (whom is under federal investigation by nearly half-a-dozen U.S agencies).  In the article,  Forbes, claims that Holmes' is now worth essentially nothing. Yes, nothing. In their argument, Forbes, argues that the "realistic" value of Theranos is actually around $800m rather than $9 billion.  "Holmes' 50% stake at a valuation of $800m leaves her worth practically nothing".  Except, there's a small issue with Forbes' assessment on Holmes wealth even at such a valuation. $400,000,000 is allot of freaking money. The Forbes article mysteriously reads more like a smear campaign (and, a poorly written one at t...
Therano’s now under federal investigation
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Therano’s now under federal investigation

The famed finger pricking blood testing company, who, famously got caught lying about the validity of its products has a new problem -- Federal officials in America. According to the Us attorneys office for Northern California and the SEC,  Therano's is in deep trouble after a brand new criminal probe was reportedly opened into the company and the actions of Elizabeth Holmes. Fed officials reportedly claim that Holmes and Therano's knowingly deceived the public about their products and how they actually worked, and, the deception allegedly went much farther reaching into the pockets of Therano's megs wealthy investors. Late last year, we ran one of the first articles regarding investigations into the company after the Wall Street JOURNAL revealed the troubling news about the ...
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