Holmes on trial: jury selection begins for Theranos founder

Source: The Guardian [UK]

“The first phase of the trial of Theranos founder Elizabeth Holmes started on Tuesday, with jury selection taking place in a San Jose, California, courthouse. Holmes is charged with six counts of fraud relating to her now-defunct medical startup. The company, founded in 2003, claimed it would revolutionize the medical testing space with a new blood diagnostic technology that could perform a range of tests on a small dose of blood. The claims were later revealed to be largely fabricated. Theranos had reached a valuation of $10bn before reports from the Wall Street Journal and others revealed it was overstating the functions of its core technologies. The US Department of Justice accused Holmes and her former boyfriend and co-president Ramesh ‘Sunny’ Balwani of defrauding both consumers who purchased and used the tests and investors who were convinced it would become profitable.” (08/31/21)