Attorneys Mull Takeaways From Conviction Of Theranos Founder Holmes
Elizabeth Holmes has been convicted on four counts of investor fraud. Two attorneys who followed the case spoke to Medtech Insight about what happened – and what it could mean for industry as a whole.
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Founded with a vision to change point-of-care diagnostics, Osler Diagnostics has raised nearly $200m to develop and commercialize a platform that promises to revolutionize diagnostics with just a drop of a patients’ blood.
In another blow from the US government, securities regulators have severely penalized Theranos and its cofounder, Elizabeth Holmes, for allegedly lying to investors to raise funds.
The government collected $2.68bn from settled False Claims Act cases last year, the US Department of Justice said. Another 12 device-related cases were announced in February alone.