{"id":6049,"date":"2016-10-11T19:12:34","date_gmt":"2016-10-12T00:12:34","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1132"},"modified":"2022-05-19T08:47:29","modified_gmt":"2022-05-19T13:47:29","slug":"san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/","title":{"rendered":"\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div class=\"WordSection1\">\n<div class=\"\"><\/div>\n<div class=\"\"><i class=\"\"><span class=\"\">The Wall Street Journal<\/span><\/i><span class=\"\">\u00a0and other media are reporting that Theranos is now the defendant of a securities fraud lawsuit brought by one of its major investors. The plaintiff is San Francisco hedge fund Partner Fund Management, which is one of the blood testing company\u2019s largest financial backers. \u00a0Partner, which brought its case in the Delaware Court of Chancery, is seeking damages beyond its investment and costs related to the lawsuit.<\/span><\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><span class=\"\">Although the complaint is under seal, Partner has confirmed that it has brought a legal case against the beleaguered blood testing company. According to a letter, which the hedge fund sent to investors, Theranos took part in \u201clies, material misstatements, and omissions\u201d to persuade Partner to invest in the company. The letter notes that Theranos CEO\/founder Elizabeth Holmes and ex-President Sunny Balwani are also defendants in the case.<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">Partner Fund believes that Holmes was deceptive when claiming that Theranos\u2019s proprietary technologies were working and close to receiving regulatory approvals. Meantime, Theranos has stated that it would combat the securities fraud lawsuit.\u00a0<\/span><\/div>\n<div class=\"\"><span class=\"\">\u00a0<\/span><\/div>\n<div class=\"\"><\/div>\n<\/div>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/#more-6049\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The Wall Street Journal\u00a0and other media are reporting that Theranos is now the defendant of a securities fraud lawsuit brought by one of its major investors. The plaintiff is San Francisco hedge fund Partner Fund Management, which is one of the blood testing company\u2019s largest financial backers. \u00a0Partner, which brought its case in the [&hellip;]<\/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":[3748],"tags":[2796],"class_list":["post-6049","post","type-post","status-publish","format-standard","hentry","category-hedge-funds","tag-theranos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos &#8212; Investor Lawyers Blog &#8212; October 11, 2016<\/title>\n<meta name=\"description\" content=\"&nbsp; The Wall Street Journal\u00a0and other media are reporting that Theranos is now the defendant of a securities fraud lawsuit brought by one of its major &#8212; October 11, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos &#8212; Investor Lawyers Blog &#8212; October 11, 2016\" \/>\n<meta name=\"twitter:description\" content=\"&nbsp; The Wall Street Journal\u00a0and other media are reporting that Theranos is now the defendant of a securities fraud lawsuit brought by one of its major &#8212; October 11, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos &#8212; 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Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos","datePublished":"2016-10-12T00:12:34+00:00","dateModified":"2022-05-19T13:47:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/"},"wordCount":408,"keywords":["Theranos"],"articleSection":["Hedge Funds"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/","url":"https:\/\/www.investorlawyers.com\/blog\/san-francisco-hedge-fund-files-securities-fraud-lawsuit-blood-testing-company-theranos\/","name":"\u00a0San Francisco Hedge Fund Files Securities Fraud Lawsuit Against Blood Testing Company Theranos &#8212; 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