Yet again it's in the soup. And this latest development can augment the litigation it is facing from investors and consumers.
In September, its second lab in Arizona failed inspection. However, Theranos didn't disclose that information to investors and those using its lab. Here is the media coverage.
Shortly after that, Theranos overhauled its identity. It made the shift from a blood-testing facility serving consumers to a technology company. It's major project in development is a portable lab which is intended to analyze blood in-place from a small sample.
This week Theranos announced it was changing leadership. Part of that was setting up a board of eight scientific and medical experts. Also, long-term members of the traditional board such as Henry Kissinger would be leaving.
The elephant in the room on all this is: Is Theranos crazy to even attempt to survive? Just the pile-on of litigation it is facing is enough to make the decision to seek bankruptcy protection.
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