Guess their prospectus needed given the hairy eyeball, huh? Their claim always was pretty outlandish. God only knows how many people they screwed over with their malfeasance.
But. But. But........It was a Women Owned Business founded by a Wunderkind . . A Success Story if there ever was one
Walgreen’s is sexist
Per Fortune Magazine:
Theranos and Walgreens first teamed up in 2010, and opened Theranos “Wellness Centers” in 40 locations where they offered blood-tests to patients. Theranos, founded in 2003 by Elizabeth Holmes, set out to develop technology that would allow for blood tests to be performed with just a few drops of blood from a finger prick.
The Center for Medicare and Medicaid Services also banned Holmes from operating a lab for two years, and in June, Walgreens severed its ties with the company.
Walgreens’ lawsuit reportedly claims that it was misled by Theranos over the state of its blood-testing technology when the companies first struck a deal and even as its technology was beginning to be challenged, according to the Wall Street Journal, citing anonymous sources. Walgreens invested $140 million in Theranos in the form of debt convertible to equity, which is the amount it seeks to recover in the lawsuit.
Theranos has previously acknowledged being under criminal investigation by the U.S. Justice Department and civil investigation by the U.S. Securities and Exchange Commission. The S.E.C. investigation is reportedly focusing on whether false statements were made to investors, while the Justice Department is believed to be focusing on whether false statements were made to investors and federal regulators. The company has denied any wrongdoing.