Quite apart from the crushing losses for investors, this secrecy and cult-like nature had other real-world consequences, with many patients likely to have received erroneous blood test results.
Investors poured almost $1 billion into Theranos and three former U.S. cabinet secretaries, two former United States senators, a retired admiral and a retired Marine Corps general joined its board.
Taylor, who took over from her as CEO in June, said in the email cited by The Journal that Theranos was in default for a loan from Fortress Investment Group, which now has the right to take ownership of all of its assets.
The company will be liquidated over the next six to 12 months, and plans to dole out its estimated $5 million in remaining cash to its unsecured creditors, according to the email sent out by Theranos General Counsel and CEO David Taylor.
Taylor said investment bank Jefferies "reached out on our behalf to over 80 potential sale counter-parties", but came away with no buyers. At its peak, the privately held company was valued at $9 billion.
Northern California Wildfire Triples in Size Near Redding
Wildfires in California have scorched far more ground this year than in 2017, one of the most destructive in the state's history. Additional firefighting resources were summoned as the blaze grew to more than 4½ square miles (11.6 square kilometers).
Other high profile investors included Australian media mogul (and owner of news.com.au) Rupert Murdoch, former US Education Secretary Betsy DeVos, the founders of Walmart and the owner of the New England Patriots.
The Wall Street Journal, which reported the initial explosive allegations against Theranos, now reports that the firm will dissolve. She also assembled a board of directors that included the elite of political and corporate America, including Jim Mattis, the current USA defence secretary, two former secretaries of state - Henry Kissinger and George Shultz - and David Boies, the high-profile lawyer.
"She wowed them. I don't necessarily think that it was a sexual thing by any means ..." She touted the invention as an innovation that would change the health industry. She was also banned from serving as an officer or director of a public company for 10 years.
Instead, in a criminal indictment, the Justice Department says that Holmes and her then-boyfriend, former President and COO Ramesh "Sunny" Balwani, perpetrated "a multi-million dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients".
Christopher Kennedy Lawford dead at 63
He was also a correspondent on EXTRA and worked with the Special Olympics, which his aunt Eunice Shriver helped create. Lawford leaves behind three children and his widow Mercedes Miller , a yoga teacher who the actor married in 2014.
Apple mulls naming new model ‘iPhone XS MAX’
The popular Plus model was first announced back in 2014 with Apple continuing to release a new larger phone every year since then. Along with the new phones, an upgraded version of Apple Watch and Airpods is also expected to be revealed in the event.
Trump, Trudeau dig in as NAFTA talks resume
Congress must approve any rewrite of the deal and could refuse to endorse an agreement that excludes Canada. It originated in the Canada-U.S. "Congress will support Canada throughout September", he said.
Vivo V11 Pro: Unboxing And First Impression
Vivo says this is the fourth generation of the fingerprint scanner is and is the most advanced version produced by the company. The Vivo V11 Pro is exclusive to Amazon in India, but it will also be available via retail stores and Vivo Shop as well.
Shells hit Syria's Idlib as rebels brace for assault
Jeffrey said US forces are to remain in the country to ensure an Iranian departure and the "enduring defeat" of the Islamic State. Belgium, France, Germany, Italy, Netherlands, Poland, Sweden and the United Kingdom also urged Syria "to exercise restraint".