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Theranos and its founder settle U.S. fraud charges - SEC

Reuters  |  WASHINGTON 

By Pete SchroederWASHINGTON (Reuters) - Embattled blood-testing company Theranos Inc and its Chief Executive Elizabeth Holmes agreed to settle "massive fraud" charges in a deal that strips her of majority control among other penalties, U.S. regulators said on Wednesday.Theranos was once hailed as a Silicon Valley star, with a $9 billion valuation based on its promise to disrupt the staid laboratory testing business with new technology the company claimed could analyse a single drop of blood. Founded in 2003, its fortunes began to wane in 2015 after Wall Street Journal reports suggested its ...

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First Published: Wed, March 14 2018. 23:50 IST
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