>> >> 308 0 obj 364 0 obj >> << >> 222 0 obj >> >> /K [28 391 0 R] 249 0 obj 149 0 obj The average salaries at Bloomberg rank the highest, with their employees earning an. The FDA would like to extend our thanks to our federal law enforcement partners for sending a strong message to Theranos executives and others that these types of actions will not be tolerated, said Catherine A. Hermsen, Acting Director, FDA Office of Criminal Investigations. << << 314 0 obj endobj << /P 8 0 R /Pg 235 0 R /Tabs /S /CropBox [0 0 612 792] 37 0 obj endobj Bundled together, these biases not only warped Holmes sense of truth, but they likely slanted the perspective of key stakeholders who were attracted to the many promises made by Theranos. << Learn about working at Theranos from employee reviews and detailed data on culture, salaries, demographics, management, financial, and more. << /Pg 256 0 R >> endobj << /S /LI 130 0 obj /Lang (EN-US) << /K 137 0 R We just didn't know what new form it would take. /Lang (EN-US) /S /P 76 0 obj /K 30 /Type /Page << 181 0 obj << endobj 348 0 obj endobj /S /LBody /Pg 238 0 R Holmes, 34, of Los Altos Hills, Calif., founded Theranos in 2003. /Resources 464 0 R >> /Contents [429 0 R 430 0 R 431 0 R] /Lang (EN-US) >> 123 0 obj 322 0 obj !xRnE1$g9`8\\5g1^"z+. /P 34 0 R 171 0 obj /StructParents 0 >> Doctors began using Theranos testing devices to diagnose patients and dispense medical advice. /K 26 /P 8 0 R /Pg 245 0 R 230 0 obj /S /LBody >> /S /P /S /P Those emails eventually made their way to Holmes, who asked, How fast can we resolve this issue? Another employee replied that, after omitting some data, the problem appeared solved. endobj The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. /K 36 >> Mission Statement. /Lang (EN-US) endobj 55 0 obj This conspiracy misled doctors and patients about the reliability of medical tests that endangered health and lives.. >> >> << 383 0 obj /K 15 Theranos presenting poster on an investigational ELISA for the serodiagnosis of #Zika virus infection - today at the American Society of Tropical Medicine & Hygiene . endobj /Rotate 0 34 0 obj /P 393 0 R /Lang (DE-DE) /K 32 295 0 obj << << /S /LBody << 350 0 obj /P 321 0 R /Lang (EN-US) /Pg 244 0 R >> The indictment charges each defendant with two counts of conspiracy to commit wire fraud, in violation of 18 U.S.C. The mission and vision statements of Kraft Heinz are indicative of a company that desires to lead the rest in everything it does. >> The company grew to become a business worth billions. /P 351 0 R endobj /S /LI In 2013, things had "started to get a bit tight," Yam said. << >> /Pg 235 0 R /P 8 0 R >> >> /P 316 0 R /Rotate 0 /S /L /Contents [441 0 R 442 0 R 443 0 R] endobj /S /LI /Pg 241 0 R /K [276 0 R 277 0 R 278 0 R 279 0 R 280 0 R 281 0 R 282 0 R 283 0 R 284 0 R 285 0 R << /S /LBody /S /LBody /K 24 /S /P endobj 395 0 obj /Lang (EN-US) Postal Inspection Service (USPIS) Inspector in Charge Rafael Nuez. /S /LBody /Tabs /S /Pg 251 0 R << >> << endobj 117 0 obj 277 0 obj /P 346 0 R Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. endobj /StructParents 9 /Parent 14 0 R /Lang (EN-US) << /S /LBody /S /LBody /Resources 408 0 R /Pg 235 0 R >> << 120 0 obj /K 31 /Tabs /S endobj /K 30 /K 153 0 R /K 6 >> Theranos | 27,358 followers on LinkedIn. /P 54 0 R 199 0 obj 17 [null null 204 0 R null null null 205 0 R null null null /MediaBox [0 0 612 792] /S /P >> /Pg 255 0 R /P 51 0 R endobj >> >> >> >> /S /P /Pg 239 0 R In the age of corporate purpose, the mission statement serves as a reminder of why an organization exists. /Pg 257 0 R /S /LBody << 20 0 obj % endstream 378 0 obj << /K 135 0 R Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing . endobj /P 317 0 R 62 0 obj << Here's Robert Leach, assistant U.S. attorney, who is prosecuting the case against Holmes: "This is a case about fraud, about lying and cheating to get money," Leach says. endobj /P 263 0 R /Pg 245 0 R << 176 0 R null null null 177 0 R null null null 178 0 R null << << endobj /P 42 0 R Follow Company. /P 63 0 R endobj /S /P 113 0 obj Before sharing sensitive information, make sure you're on a federal government site. 206 0 obj /P 8 0 R >> /Lang (DE-DE) /K 8 0 R >> /DropCap /Figure 78 0 obj >> 55 0 R 56 0 R 57 0 R 58 0 R 59 0 R 60 0 R 61 0 R 62 0 R 63 0 R 64 0 R Its unclear whether Theranos rise and fall will turn out to be a dazzling mirage of would-be business greatness, one of the most infamous stories of corporate fraud in the 21st century, or, an ironic reminder of the inescapable weakness of biased decision-making. endobj /K 183 0 R /P 269 0 R >> endobj endobj /Contents [453 0 R 454 0 R 455 0 R] endobj << /P 50 0 R Cheung said she joined the company largely on the star power of its CEO. /P 285 0 R The extraordinary entrepreneur on Fortune's June cover explains her mission and opportunity aheadWant to see more Fortune Video? /Pg 251 0 R /S /LI When Yam was working with an analytics firm to price stock options, she asked Holmes for some key financial forecasts, including projected revenue, because the CEO had the best information. During that process, Yam had emailed Holmes asking her how much revenue she was anticipating. 253 0 obj << endobj /S /P << 284 0 obj endobj We searched far and wide for the best company mission statement examples. /S /LBody << >> -mission statement: to make actionable information accessible to everyone at the time it matters. >> /K 194 0 R << /S /LBody endobj endobj << /K 15 /P 50 0 R /Lang (EN-US) >> /P 361 0 R /S /LBody /Type /Page 194 0 R null null null 195 0 R null null null 196 0 R null /S /P 235 0 obj /P 378 0 R 154 0 R null null null 155 0 R null null null 156 0 R null endobj /K 156 0 R >> << 366 0 obj Theranos's mission statement is "To facilitate the early detection and prevention of disease and empower people everywhere to live their best possible lives." /Lang (EN-US) /Pg 235 0 R << >> << 225 0 obj /K 10 /Rotate 0 endobj /K 223 0 R >> endobj /MediaBox [0 0 612 792] >> >> /Pg 237 0 R Balwani, who was convicted on 12 counts of fraud and conspiracy and sentenced to nearly 13 years in prison, is also seeking to remain free amidan appeal. The first week of Theranos founder Elizabeth Holmes' fraud trial is now complete. 215 0 obj endobj While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. endobj /S /LBody But Theranos shared very little about its blood-testing machine with the public or medical community. By 2017, scientific and medical and technical boards were established. /Tabs /S 60 0 obj << /ITXT (2.1.7) endobj /K 14 /Pg 241 0 R /Type /Pages The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. >> John Carreyrou writes the story of a gifted 19-year-old who founded a health . 339 0 obj /Lang (EN-US) 115 0 obj /K [380 0 R 381 0 R] Getty Images. 35 0 obj 85 0 obj endobj << endobj >> /P 276 0 R >> /K 10 << /Pg 242 0 R 267 0 obj << >> /Lang (EN-US) >> /Lang (EN-US) /P 8 0 R /Pg 258 0 R /K 181 0 R -Theranos is now worth $9 billion dollars; Holmes currently owns about half the company-Forbes named her one of the youngest female self-made billionaire before the age of 30. . >> /P 48 0 R >> /K 118 0 R 338 0 obj /Lang (EN-US) /P 334 0 R 137 0 obj << >> endobj /Pg 256 0 R She now has "two very young children hertoddler and an infant," according to a recent court filing. /Pg 235 0 R /Lang (EN-US) << /Lang (EN-US) Similarly, defendants purchased and used commercially-available analyzers to test patient blood, while representing to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers. endobj /P 344 0 R /Lang (EN-US) /MediaBox [0 0 612 792] For example, the defendants represented to investors that Theranos conducted its patients tests using Theranos-manufactured analyzers; when, in truth, Holmes and Balwani knew that Theranos purchased and used for patient testing third party, commercially-available analyzers. << /P 380 0 R 376 0 obj << Legal Statement. But constantly focusing on a desired future state may have the effect of giving extra highlight to the positives of a distant vision at the expense of the operational challenges that are taking place in the here and now. /Resources 468 0 R /S /LI Forbes has since . /K 18 /S /LBody endobj << Using a "nanotainer" (a small device designed to draw, retain, and analyze a . 217 0 R null null null 218 0 R null null null 219 0 R null /P 8 0 R endobj 73 0 obj 49 0 obj /S /LI /Pg 235 0 R /K 19 /K 133 0 R >> The employee data is based on information from people who have self-reported their past or current employments at Theranos. /Lang (EN-US) /P 8 0 R /S /LBody Theranos founder Elizabeth Holmes arrives at San Jose court over alleged fraud. /K 18 /StructParents 8 Investors who put a total of $632 million into Theranos in its latest funding round from 2014 to 2015 included " Rupert Murdoch and family-controlled Cox Enterprises Inc., -- [Cox family holdings . /Producer (Adobe PDF Library 15.0; modified using iText 2.1.7 by 1T3XT) Theranos founder and CEO Elizabeth Holmes speaks at the Fortune Global Forum in San Francisco, California, on Monday, Nov. 2, 2015. endobj 77 0 obj /K 0 << /Pg 239 0 R /P 380 0 R Acrobat PDFMaker 18 for Word An indictment merely alleges that crimes have been committed, and the defendants are presumed innocent until proven guilty beyond a reasonable doubt. /S /LI /Pg 235 0 R << 165 0 obj /P 265 0 R /CropBox [0 0 612 792] Theranos CEO Elizabeth Holmes on her company and the landscape of U.S. diagnostic-lab industry. /K 0 /P 8 0 R << Adobe PDF Library 15.0; modified using iText 2.1.7 by 1T3XT /A 259 0 R /Lang (EN-US) endobj /P 328 0 R The conduct alleged in these charges erodes public trust in the safety and effectiveness of medical products, including diagnostics. /Pg 251 0 R But in February, the pair had a number of charges dropped, excluding wire fraud. The indictment further alleges that Holmes and Balwani knew that many of their representations about the analyzer were false. /K 10 /S /LI /S /P 125 0 obj >> /S /LI >> /Lang (EN-US) /Lang (EN-US) /P 44 0 R /Annots [] /P 327 0 R << /P 303 0 R /P 336 0 R Competitors of Theranos include Bloomberg, Morgan Stanley, and National Journal. /Lang (EN-US) >> /K 140 0 R The defendants also delivered to doctors and patients blood test results from which critical results were improperly removed. /P 291 0 R 242 0 obj << The business had garnered hundreds of millions of dollars in investments and was valued at $9 billion in 2015, when a Journal expose showed the company had some not-so-favorable secrets. A jury will decide whether Ms. Holmes, who founded Theranos and hawked a mission of revolutionizing health care, lied to investors about her company's technology. The Theranos scandal has dominated headlines, and both fascinated and appalled readers worldwide, since John Carreyrou's shattering report first broke in 2015. endobj << /CreationDate (D:20180314084127-07'00') /MCID 2 It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. /StructParents 6 /S /LI 216 0 obj I did not think the technology we were using was adequate enough to be engaging in that behavior.. /P 365 0 R /Type /MCR /P 8 0 R 245 0 obj /Pg 239 0 R While working at Theranos, Cheung sent an email to others in the company, sharing her concerns about the Edison machines. Both defendants appeared today before U.S. Magistrate Judge Susan van Keulen for their initial appearances. << /S /LBody /Pg 252 0 R /Pg 249 0 R /Type /Page >> /Type /Pages . /Annots [] 158 0 obj >> /Lang (EN-US) >> /Lang (EN-US) 10 [null null 163 0 R null null null 164 0 R null null null /P 290 0 R endobj << Your California Privacy Rights | Do Not Sell My Personal Information << Answer 1. 110 0 obj << Instead, a vision made boundless by its sharp divide from reality and its extraordinarily narrow goals ended up only perpetuating a state of motivated blindness. /K 49 << /Lang (EN-US) endobj /Rotate 0 292 0 obj /P 8 0 R /K 2 /S /P stream /MCID 2 << << 247 0 obj Holmes was found guilty on four felony fraud counts associated with a loss to victims of at least $120 million. >> >> The mission statement conveys no values such as honesty, transparency, or integrity. /S /P /S /P /Pg 253 0 R << << /P 8 0 R 155 0 obj << >> << /CropBox [0 0 612 792] /Tabs /S /Parent 12 0 R /P 55 0 R 22 [70 0 R 71 0 R 72 0 R 73 0 R 74 0 R 75 0 R 76 0 R 77 0 R 78 0 R 79 0 R Most of the tests that Theranos was performing for clients were done on devices made by other companies, Cheung testified. /P 335 0 R /S /LI endobj /P 8 0 R endobj /S /LI /K [105 0 R 106 0 R 107 0 R 108 0 R 109 0 R] /K 12 /P 50 0 R application/pdf 42 0 obj 368 0 obj If convicted, the defendants face a maximum sentence of twenty (20) years in prison, and a fine of $250,000, plus restitution, for each count of wire fraud and for each conspiracy count. 306 0 obj endobj /K 17 /Lang (EN-US) /K 33 /Pg 240 0 R 51 0 obj << /S /LBody /Resources 456 0 R /Pg 242 0 R >> 95 0 R 96 0 R 97 0 R 98 0 R 99 0 R 100 0 R 101 0 R 102 0 R 103 0 R 104 0 R 278 0 obj endobj /S /L << /Lang (EN-US) endobj /Annots [] 228 0 obj Here are three culture takeaways from the Theranos scandal that are relevant to all leaders and employees. /P 42 0 R /StructParents 3 180 0 obj /Lang (EN-US) >> /S /LI /K 3 THERANOS FOUNDER ELIZABETH HOLMES TO FACE TRIAL SEPARATE FROM EX-LOVER. /P 55 0 R endobj << /Pg 235 0 R /S /LI << >> /S /LI >> 72 0 obj endobj /S /P /Type /MCR << 99 0 obj /Tabs /S /Lang (EN-US) endobj /K 6 endobj /K 2 >> /K [22 386 0 R] << /S /LBody /Resources 440 0 R Help other job seekers by rating Theranos. /Lang (EN-US) Investors have poured more than $400 million into Theranos, valuing it at $9 billion and her majority stake at more than half that. >> endobj /S /LBody /S /P 195 0 obj The two pleaded not guilty to wire fraud and conspiracy to commit wire fraud. Theranos was a private health care company, with a mission to revolutionize lab testing through innovative methods for drawing blood, testing blood, and interpreting resulting patient data. /K [26 395 0 R] >> /Resources 420 0 R Holmes, Balwani, and Theranos also made false or misleading statements to investors about many aspects of Theranos' business, including the capabilities of its proprietary /P 59 0 R /K 167 0 R << << << /Pg 250 0 R endobj /K 221 0 R /P 355 0 R /Pg 235 0 R /Pg 237 0 R /P 381 0 R /S /LBody /MediaBox [0 0 612 792] /K 38 /Pg 258 0 R /P 48 0 R /P 8 0 R >> 202 0 obj /P 8 0 R /CropBox [0 0 612 792] 160 0 obj Connor Radnovich/The Chronicle. /S /P endobj Theranos has established itself as a great place to work in California, and it is number 17 on Zippia's list of, The average employee at Theranos makes $44,094 per year. 272 0 obj Claim This Company. /P 8 0 R 87 0 obj /S /P >> /Pg 243 0 R >> << /Lang (EN-US) 66 0 R 67 0 R 68 0 R 69 0 R] /K 180 0 R endobj /Lang (EN-US) 112 0 obj << /Parent 14 0 R /Pg 255 0 R endobj After asking questions about Theranos continued losses and lack of revenue, prosecutors showed Yam a document they said was shared with investors; it projected $140 million in revenue in 2014 and $990 million in 2015. << >> /P 350 0 R /K 5 217 0 obj endobj /Annots [] 271 0 obj >> 191 0 obj << 377 0 obj >> endobj /S /P Carreyous account of Safeways engagement with Theranos is powerful. /P 48 0 R /Lang (EN-US) /S /LI endobj 152 0 obj << /Lang (EN-US) /Pg 257 0 R >> /P 349 0 R endobj /StructParents 16 /Pg 235 0 R /Lang (EN-US) /Lang (EN-US) 111 0 obj << endobj /K 126 0 R Around the time that Theranos was losing nearly $2 million per week, investors in the blood-testing startup were being told that the company would soon be bringing in almost $1 billion per year. /P 55 0 R /P 287 0 R 179 0 obj /Annots [] /Rotate 0 endobj << endobj /K 12 /Lang (EN-US) /S /LI /K 175 0 R /P 8 0 R /K 22 /S /LBody /P 381 0 R /Pg 235 0 R 187 0 obj /Pg 235 0 R /S /LI 351 0 obj Onetime wunderkind Holmes and Balwani, her former partner in business and domestic affairs, stand charged with nine federal counts . 227 0 obj >> She pitched its technology as a cheaper way to run dozens of blood tests with just a prick of a finger and a few droplets of blood. /Pg 252 0 R /P 48 0 R /P 380 0 R And although entrepreneurship is very much about turning an imagined future state into reality, the vast and unchecked gap between Theranos vision and the technological incompetence of its operations was breathtaking. << 53 0 obj Follow Mike Snider on Twitter:@mikesnider. /Pg 235 0 R /S /LBody /S /P << /Lang (EN-US) /S /P /P 309 0 R /Type /Page << /Lang (EN-US) 153 0 obj << /S /LBody /K 18 /Pg 258 0 R /Pg 247 0 R /Annots [] /Lang (EN-US) << /K 165 0 R 7 [null null 147 0 R null null null 148 0 R null null null 50 0 obj /P 59 0 R endobj /Pg 255 0 R << << /Pg 247 0 R /Pg 242 0 R /K 4 /Tabs /S In many ways, Theranos is the embodiment of Silicon Valley startup culture. /S /L /Pg 253 0 R The defendants also represented to investors that Theranos would generate over $100 million in revenues and break even in 2014 and that Theranos expected to generate approximately $1 billion in revenues in 2015 when, in truth, the defendants knew Theranos would generate only negligible or modest revenues in 2014 and 2015. /K 199 0 R /S /LI endobj endobj /P 8 0 R /P 50 0 R /Resources 416 0 R /P 51 0 R /P 342 0 R Theranos Mission Statement. endobj << /StructParents 2 /MediaBox [0 0 612 792] /Tabs /S 252 0 obj /Parent 14 0 R endobj /P 343 0 R /S /L << /K 172 0 R >> /S /LBody /S /LBody endobj . << /P 59 0 R /S /LI endobj /K 10 164 0 obj endobj /P 8 0 R /K 275 0 R /S /P /P 356 0 R endobj The fact that key stakeholders at Safeway remained upbeat despite the arrogant and secretive behaviors of Theranos executives and the lack of any real hard proof associated with many of the claims Theranos was making is extremely revealing. /Lang (EN-US) /Pg 253 0 R >> 35 0 R 36 0 R 37 0 R 38 0 R 39 0 R 40 0 R 41 0 R 42 0 R 43 0 R 44 0 R Theranos, Inc. is a consumer health technology company founded in 2003 by Elizabeth Holmes. << >> /S /LI 146 0 obj << /S /LI /K [32 382 0 R] In November 2022, Holmes was sentenced to 135 months in prison for defrauding investors in the failed Silicon . >> She had a charisma to her; she was very articulate,Cheung saidof Holmes. /K 14 >> << 391 0 obj /P 8 0 R By Elizabeth Lopatto / @ mslopatto. >> endobj /P 33 0 R 91 0 obj /Lang (EN-US) 293 0 obj endobj << 16 0 obj << /Pg 244 0 R endobj /S /LBody /K 151 0 R endobj /P 51 0 R /Lang (EN-US) /K 35 173 0 obj /S /LBody /P 345 0 R /K 10 Fear a Culture of Fear. /K 132 0 R 174 0 obj According to the indictment returned yesterday and unsealed today, the charges stem from allegations Holmes and Balwani engaged in a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients. /Pg 235 0 R /Lang (EN-US) 307 0 obj /S /LBody << << >> endobj >> 341 0 obj 358 0 obj /PageLayout /OneColumn /K 37 >> 45 0 obj /Rotate 0 114 0 obj /P 50 0 R << /Pg 257 0 R 163 0 obj << /S /P /Pg 257 0 R << /K [26 383 0 R] 123 0 R null null null 124 0 R null null] /P 8 0 R /K 213 0 R >> >> /P 299 0 R /Pg 235 0 R /K 18 /Subscript /Span endobj 74 0 obj /Lang (EN-US) 145 0 obj /Pg 240 0 R /K 17 /P 8 0 R /Length 501 0 R 103 0 obj /Pg 240 0 R /Lang (EN-US) /Lang (EN-US) /P 260 0 R Quotes displayed in real-time or delayed by at least 15 minutes. 144 0 obj /Author () /P 50 0 R /Resources 492 0 R /Pg 243 0 R /S /P endobj << endobj /P 8 0 R endobj << /K 32 /P 55 0 R /K 0 /Lang (EN-US) endobj 2018-03-14T09:02:10-07:00 /K 10 /K 28 /K 18 According to Temporal Construal Theory, a compelling, unfulfilled mission can trigger this type of operational myopia. Prosecutors allege that Holmes and Balwani deliberately misled investors, policymakers and the public about the accuracy of Theranos blood-testing technologies since 2013, at least, EX-BILLIONAIRE ELIZABETH HOLMES CAN'T PAY LAWYERS DEFENDING HER IN THERANOS FRAUD CLAIM. /Parent 13 0 R /Lang (EN-US) /S /LBody Tim De Chant /K 188 0 R /Pg 258 0 R /K 192 0 R /Lang (EN-US) 226 0 obj endobj endobj Theranos may also be known as or be related to Theranos, Theranos Inc, Theranos Inc. and Theranos, Inc. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. endobj endobj (REUTERS/Carlo Allegri). >> /Rotate 0 >> /K 12 /K 174 0 R /K [374 0 R 375 0 R 376 0 R 377 0 R 378 0 R 379 0 R] /S /P 199 0 R null null] /K 125 0 R THERANOS FOUNDER ELIZABETH HOLMES IN COURT; ANATOMY OF A FRAUD. /Lang (EN-US) /S /LBody 266 0 obj >> Research on the dark sides of creativity suggests that not only are people more likely to act dishonestly when they are in a creative state, but that cheating, in itself, can actually make people more creative. /S /P Palo Alto, United States August 18, 2016: Elizabeth Holmes accepts The Entrepreneur award at, the 25th Annual Glamour Women of the Year Awards on Nov. 9, 2015, in New York. There are at least four biases that can let a belief about a desired future state shape reality despite its disconnectedness from reality. /K [26 388 0 R] << endobj endobj << Theranos representeda potential disruptor to costly and quasi-monopolistic healthcare players that would help people get the right cure at the right time. /K 26 /K 14 endobj Yam said she had never seen the document before, nor did she know where those numbers had come from. << << /Parent 11 0 R /K 139 0 R /Parent 11 0 R endobj /Lang (EN-US) >> /K 225 0 R << /S /LBody /K 136 0 R /Pg 247 0 R 223 0 obj << >> << /S /LI endobj /Pg 255 0 R endobj endobj 142 0 obj /Parent 5 0 R /K 117 0 R WIRED Media Group << 200 0 obj /Lang (EN-US) The indictment alleges that the defendants used a combination of direct communications, marketing materials, statements to the media, financial statements, models, and other information to defraud potential investors. /K 196 0 R /K 232 0 R null null 121 0 R null null null 122 0 R null null null /K 215 0 R endobj /S /LBody It's unclear . >> /S /LBody null 52 0 R 53 0 R] /Type /Page 25 0 obj << 238 0 obj /Kids [245 0 R 246 0 R 247 0 R 248 0 R 249 0 R] /MediaBox [0 0 612 792] << endobj endobj Elizabeth Holmes speaks during a Bloomberg, Television interview at the Vanity Fair 2015 New Establishment Summit in San Francisco, on Oct. 6, 2015. Mr. Balwani's lawyer started his opening statement by deflecting blame onto Ms. Holmes, who was the chief executive of Theranos. >> /Lang (EN-US) endobj << >> << 102 0 obj << About us Our mission is to make actionable information accessible to everyone at the time it matters. /CropBox [0 0 612 792] >> 257 0 obj 197 0 obj ] In fact, Yam relied heavily on Holmes for financial projections. /Outline /Span /S /LI endobj /K [24 387 0 R] /P 262 0 R /P 33 0 R /Lang (EN-US) /S /TD 281 0 obj /Subtype /XML /Lang (EN-US) >> << Read company statement regarding investor . << During the trial Holmes accused her ex-boyfriend and business partner, Ramesh "Sunny" Balwani, of emotional and sexual abuse at the time of the alleged crimes, impairing her mental state. /P 55 0 R << Through these advertisements, the defendants explicitly represented to individuals that Theranoss blood tests were cheaper than blood tests from conventional laboratories to induce individuals to purchase Theranoss blood tests. This material may not be published, broadcast, rewritten, or redistributed. /S /P endobj << Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data. 204 0 obj 347 0 obj /P 40 0 R /S /LI /S /LBody /S /P >> /P 274 0 R /Tabs /S endobj >> The defendants knew Theranos was not capable of consistently producing accurate and reliable results for certain blood tests, including the tests for calcium, chloride, potassium, bicarbonate, HIV, Hba1C, hCG, and sodium. /K 47 >> << /Pg 247 0 R /Pg 253 0 R /P 55 0 R /Pg 253 0 R /S /LI /Type /MCR flagrantly vague and often outright untruthful statements. Cultivating a boundless vision until the very end completely untethered from the status quo, rules, requirements and the demands of the here and now Holmes and Theranos were on a special kind of journey. >> << endobj /S /LBody /Rotate 0 /Lang (EN-US) /Pg 235 0 R The Company's clinical laboratory offers comprehensive laboratory tests. 131 0 obj << << 201 0 R null null null 202 0 R null null null 203 0 R null 24 0 obj /P 50 0 R 310 0 obj /P 8 0 R << /K 6 /Lang (EN-US) << >> /S /LBody null null 127 0 R null null 45 0 R null null 128 0 R null 86 0 obj /Lang (EN-US) /Resources 448 0 R It became evident that audited financial statements hadn't been prepared since 2009. /MediaBox [0 0 612 792] Founded in 2003 by then 19-year-old Elizabeth Holmes, Theranos raised more than US$700 million from venture capitalists and private investors, resulting in a $10 billion valuation at its peak in 2013 and 2014. /P 304 0 R Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. 167 0 obj /S /L stream endobj /P 8 0 R endobj /P 8 0 R >> /K 144 0 R /P 337 0 R 198 0 obj 4 0 obj /CropBox [0 0 612 792] null null 174 0 R null null null 175 0 R null null null /Resources 424 0 R >> 33 0 obj << /StructParents 10 /Rotate 0 /Parent 13 0 R /Type /MCR << /S /LI /P 44 0 R /S /LI /P 332 0 R /S /Table >> Holmes dropped out of Stanford University at 19 to found Theranos in 2003. >> 320 0 obj 104 0 obj /K 5 Theranos is a private health care and life sciences company with the stated mission to revolutionize medical laboratory testing through allegedly innovative methods for drawing blood, testing blood, and interpreting the resulting patient data.