US blood-testing startup Theranos to fold: WSJ
Washington (AFP) - The once high flying blood-testing start-up Theranos, accused with cheating investors, will dissolve, the Wall Street Journal reported Wednesday.It will seek to pay unsecured creditors its remaining cash in coming months, the Journal said, citing a shareholder email. Theranos founder Elizabeth Holmes settled a shareholder lawsuit in July that was designed to recover whatever can be salvaged from the firm, the Journal said.In June, the US Justice Department said a federal grand jury in California indicted Holmes, 34, and Ramesh "Sunny" Balwani, 53, who had been president and ...
Former Theranos biotech star indicted on fraud charges
San Francisco (AFP) - Elizabeth Holmes, the founder of blood-testing startup Theranos and a onetime Silicon Valley star, has been hit with criminal charges accusing her of defrauding investors and others, prosecutors announced Friday.The Justice Department said a federal grand jury in California indicted Holmes, 34, and Ramesh "Sunny" Balwani, 53, who had been president and chief operating officer.The indictment claims that Holmes and Balwani falsely claimed that they had developed revolutionary technology that could quickly provide a range of clinical tests from a small drop of blood."Today's...