That was before The Wall Street Journal questioned the accuracy of the startup's alleged breakthrough technology. Now we know that through a shell company, Theranos purchased commercial technology to stage a presentation for potential investors featuring what the alleged Theranos' proprietary technology could do.
During her heyday, Holmes got Henry Kissinger on the board, superlawyer David Boies to represent her and a dinner invitation at the Obama White House. Also, at her peak, her startup had been worth $9 billion.
At the New York Post, Jonathan Trugman poses 2 questions:
- Where's the money (Only a fraction of it has been paid out.)
- Is Holmes the Millennial version of Bernie Madoff. (Federal officials investigating her for alleged illegal behavior have not yet charged her.)
No surprise, a movie is being made of this outsized player. It is being directed by Adam McKay and Jennifer Lawrence depicts Holmes.
Both investor and consumer lawsuits have been filed against Theranos. Therefore, it's possible that, in the face of that litigation, the company will file for bankruptcy.
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