Posted on 10/31/2016 8:33:19 PM PDT by CorporateStepsister
SAN FRANCISCO — Embattled biotech startup Theranos Inc. has promoted senior litigation counsel David Taylor to acting general counsel. Taylor's already got a full plate.
"He's got a mess on his hands," said Hagens Berman Sobol Shapiro partner Robert Carey in Phoenix, one of many lawyers suing the blood diagnostics company for alleged consumer fraud. Carey's suit is one of six similar, separate suits consolidated in the Northern District of California.
Aside from that litigation surplus, Theranos is being investigated for investor and consumer fraud by the U.S. Securities and Exchange Commission and the U.S. Department of Justice, respectively. The company also faces serious brand reputation problems and a smaller in-house legal department, lawyers said. But for some lawyers, facing an uphill battle can be a good career move.
"It's a great opportunity to step up and see what he can do," said Goodwin Procter partner William Growney Jr., who previously helmed the legal department at software company Roxio Inc. "I do believe they'll ultimately resolve their legal issues, and if [Taylor] can be a part of that, that's a unique situation."
(Excerpt) Read more at therecorder.com ...
"Our research indicates if black turtlenecks are worn often enough, this DOES return in a transformation INTO Steve Jobs. More recently I've started listening to Bob Dylan a lot, my coaches tell me this means I really WILL be a genius and ALL my products will work and sell. Also I can SCREAM all day at employees and they'll call me a tech ghuru for that."
Theranos is the biotech Pets.com.
Vanity Fair article is an eye opener. Her pop used to work for Enron.
Go figure; both involved in fraudulent companies that destroy their employees, rip off investors, and were previously riding high. Daddy taught his muffin real well, didn’t he?
Steve Jobs really, really set a horrible precedent. Ever since he ran Apple according to his deranged ideas, it’s set a precedent where any techie entrepreneur thinks that looking slovenly is hip, screaming abuse at employees is going to make them a success, and that it’s okay to make a profit before providing an actual product/service. Zuckerberg is acting more like a cult leader than a businessman and each and every single one of them basically goes on and on and on about making history instead of just working.
Go figure. Blood testing could be a lot more advanced, but it takes more innovation than invention.
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