December 14, 2018

Theranos is finally dead, company to wind down

06 September 2018, 01:14 | Silvia Roy

Theranos was unable to sell itself and is now looking to pay unsecured creditors its remaining cash of about $5 million in the upcoming months, according to an email The Wall Street Journal obtained that CEO David Taylor sent to shareholders.

Theranos, with Holmes at the helm, had claimed that it could run a slew of physiological tests with a simple pin-prick of blood.

Ms Holmes herself became a business pin-up, wearing a black turtleneck jumper that drew comparisons with Steve Jobs, while profiles regularly pointed out that, like other successful tech entrepreneurs such as Bill Gates and Mark Zuckerberg, she was a college drop-out.

The indictment states that Holmes and Balwani falsely claimed that they had developed revolutionary technology that could quickly provide a range of clinical tests from a small drop of blood.

Air strike in Syria kills eight pro-government fighters
In 2017, the northern de-escalation zone was created there to accommodate the militants who refused to accept reconciliation terms and lay down weapons and their families.

Big name investors had reportedly lost about $1 billion.

She carefully crafted her image as well, wearing nearly entirely black turtleneck sweaters that earned her the moniker in Silicon Valley as 'the next Steve Jobs'.

It was briefly one of the most celebrated companies in Silicon Valley - but Theranos, a company valued at $9bn (£7bn) at its peak, will soon be no more.

The story raised concerns about the accuracy of Theranos' blood testing technology, which put patients at risk of having conditions either misdiagnosed or ignored.

Nadal ‘bagelled’ but survives Thiem test to reach semis
Open last year, followed by the semifinals of the French Open and a five-set thriller in the Wimbledon quarterfinals this year. After offering little resistance in the first set, in which he won just seven points, the more versatile Nadal adjusted.

Theranos is shutting down, The Wall Street Journal said on Tuesday night, citing a shareholder email.

As Ars reported previously, in March 2018, the Securities and Exchange Commission filed civil charges against Holmes, Balwani, and Theranos, alleging that they had committed "massive fraud".

Theranos Chief Executive Officer Elizabeth Holmes speaks on stage at the Glamour Women of the Year Awards where she receives an award, in the Manhattan borough of New York November 9, 2015. The SEC accused them of lying about the company's abilities, financial health and connections to the Department of Defense. Holmes settled with the SEC, agreeing to pay $500,000 in fines and penalties.

Emma Willis Praised Over ‘Brutal’ Roxanne Pallett Interview
The four-minute long interview was prerecorded, as Channel 5 decided not to put Roxanne in front of a live audience. She said: "Watching the footage, it feels like a completely different scenario to how it felt at the time".

Other News

Trending Now

Fans shower love in all forms for Hrithik Roshan's Super 30 poster!
At the stroke of midnight, Hrithik Roshan treated the audience by sharing the teaser poster piquing the interests of the audience. Now the makers have released new posters of the film and it seems they are indeed going with the man-against-system strategy.

Meet 'Captain Marvel' in First Official Photos From Brie Larson's Movie
Before today, we had only seen behind-the-scenes images from the set, leaked concept art, and some new merchandise from the movie. First up, we can't help but swoon over this hero shot of Brie Larson in full Captain Marvel mode (via Entertainment Weekly ).

Kim Kardashian turns to another convicted felon’s case
Kardashian claims that Kushner is "passionate" about prison reform, and he appears to be her go-to White House link. Prosecutors say he was buying cocaine or crack from a major drug supplier at a gas station in December 2010.

The brand new Nations League explained
While the qualifying group stage for Euro 2020 will still go ahead, the inception of the Nations League will affect the timeline. Some quarters have criticised the effect on lesser sides, as the league format doesn't test them against higher-ranked nations.

Challenger Pressley notches upset victory in MA congressional race
A 10-term incumbent congressman in MA conceded to a progressive candidate during the state's Democratic primaries Tuesday night. Pressley will vie for a seat in the House of Representatives after a career in Boston's City Council.

Brad Keselowski’s late move in the pits wins Southern 500
On the ensuing race off pit road, Keselowski edged out Larson to become the new leader. "We just haven't been able to do that". We had some good pit stops throughout the night. "We've just got to keep digging, keep working hard".

Labour anti-Semitism: Protests erupt outside crunch IHRA meeting
I have no heart to go over the reasons I am leaving - there are too many - but in the final analysis it boils down to this: the Labour Party I loved is dead.

Indian State Battles 'Rat Fever' Outbreak After Worst Floods In History
Communicable diseases in the state have killed 84 people since the beginning of August, including 20 people in the past two days. There are 372 confirmed cases of the rat fever have emerged in Kerala while there are 719 suspected cases since August.

McDonalds poster prank goes viral
McDonald's did not immediately respond to Fox News' request for comment as to whether or not the poster will be kept up. They edited the photo and ordered a large poster print from Office Depot for a little more than $80.

Serena Williams wins U.S. Open quarterfinals, advances to semis
"I still know that no matter whether I'm in the semi-finals or the finals, I have a really long way to go to win that". When told of Lee's comments following her straight sets win over Pliskova, Williams was momentarily speechless.