Enlarge / Theranos CEO Elizabeth Holmes speaks at the Clinton Global Initiative Annual Meeting in New York City on September 29, 2015. (credit: CNBC / Getty Images News)
If it’s not one thing, it’s another in the dizzying downward spiral of Theranos, the once-darling of Silicon Valley biotech.
On Friday, the Wall Street Journal reported that the company “allegedly misled company directors” regarding its lab tests and used a shell company to buy commercial lab gear. These are just a few of the new revelations made by the Journal, which also include fake demonstrations for potential investors.
The new information came from unsealed depositions by 22 former Theranos employees or members of its board of directors. They were deposed by Partner Fund Management LP, a hedge fund currently suing Theranos in Delaware state court. Theranos is also facing multiple lawsuits in federal court in California and Arizona, among others.
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Source:: Ars Technica