Prosecutors rest their case against Theranos founder Elizabeth Holmes -Breaking
[ad_1]
© Reuters. FILE PHOTO. Elizabeth Holmes, former CEO of Theranos, arrives at San Jose Federal Court in California on July 17, 2019. REUTERS/Stephen Lam/File PhotoJody Godoy
SAN JOSE (Reuters) – Although Elizabeth Holmes, a former Silicon Valley executive, was cleared of criminal fraud charges on Thursday by the prosecution, it is not clear if Holmes, who had once claimed to have revolutionized the blood test industry, will be testifying in her defense.
Two-months of testimony was heard by jurors at San Jose in California from over two dozen people, some patients, and others who Holmes allegedly deceived. The prosecution moved to dismiss the one-count fraud against a patient charge at the end of their case.
Holmes has now the option to bring witnesses to her own defense. She is however not required to.
Holmes has been accused of making falsified claims regarding Theranos. Holmes claimed that Theranos could perform a variety of tests quicker and more accurately than standard laboratory procedures using just a drop from the finger.
Once touted as the Steve Jobs of biotech for her company’s supposedly innovative technology, Holmes faces nine counts of wire fraud and two counts of conspiracy. She has pleaded no guilty.
Theranos was founded by Holmes in 2003 at 19 years old. It attracted attention from investors, and once had a value of $9 billion.
The Wall Street Journal published several articles in 2015 suggesting the Theranos device was flawed.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]
