{"id":2146,"date":"2018-03-16T17:48:13","date_gmt":"2018-03-16T22:48:13","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=2146"},"modified":"2018-03-16T17:48:13","modified_gmt":"2018-03-16T22:48:13","slug":"theranos-founder-elizabeth-holmes-charged-alleged-750m-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/theranos-founder-elizabeth-holmes-charged-alleged-750m-fraud\/","title":{"rendered":"Theranos and Founder Elizabeth Holmes Charged in Alleged $750M Fraud"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission has filed fraud charges against Theranos Inc., its CEO and founder Elizabeth Holmes, and its ex-President Ramesh Balwani. The regulator contends that they engaged in a years-long fraud that raised over $700M from investors.<\/p>\n

According to the SEC\u2019s complaint, the three of them made statements that were false, exaggerated, and\/or misleading regarding the company\u2019s business, finances, and technology. They purportedly did this in presentations to investors, media articles, and product demos.<\/p>\n

Because of these erroneous, deceptive, and inflated statements, investors thought that Theranos’s main product, which is a portable blood analyzer, could perform comprehensive blood tests with minute blood samples. Also, Theranos claimed that the company had the technologies needed to transport a finger stick sample of blood, place the sample in a specialized device that would go into an analyzer, and the analyzer could determine the results. The findings could then be sent to the care provider or patient. Theranos\u2019 technology was supposedly able to offer cheaper, speedier, and more accurate results than any other blood testing labs\u2014not to mention that it was portable.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission has filed fraud charges against Theranos Inc., its CEO and founder Elizabeth Holmes, and its ex-President Ramesh Balwani. The regulator contends that they engaged in a years-long fraud that raised over $700M from investors. According to the SEC\u2019s complaint, the three of them made statements that were false, exaggerated, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3760,3795,3761],"tags":[2956,2796],"class_list":["post-2146","post","type-post","status-publish","format-standard","hentry","category-sec-enforcement","category-sec-settlements","category-securities-and-exchange-commis","tag-fraud","tag-theranos"],"yoast_head":"\nTheranos and Founder Elizabeth Holmes Charged in Alleged $750M Fraud | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has filed fraud charges against Theranos Inc., its CEO and founder Elizabeth Holmes, and its ex-President Ramesh Balwani. 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