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Theranos repeatedly and knowingly lied to investors, newly unsealed lawsuit says

The lawsuits keep piling on the onetime rising star of medtech. Partner Fund Management, which invested $96.1 million in Theranos in 2014, is accusing CEO Elizabeth Holmes and former COO Ramesh Balwani, of lying to investors about the company’s now-discredited blood-testing technology, Fortune reports. The lawsuit was filed Monday and unsealed yesterday, Fortune reports, and … Continue reading “Theranos repeatedly and knowingly lied to investors, newly unsealed lawsuit says”

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The lawsuits keep piling on the onetime rising star of medtech. Partner Fund Management, which invested $96.1 million in Theranos in 2014, is accusing CEO Elizabeth Holmes and former COO Ramesh Balwani, of lying to investors about the company’s now-discredited blood-testing technology, Fortune reports. The lawsuit was filed Monday and unsealed yesterday, Fortune reports, and alleges securities fraud among other violations. Theranos has denied the claims in a statement. Read more here.  

About the author

Christopher Zara is a senior staff news editor for Fast Company and obsessed with media, technology, business, culture, and theater. Before coming to FastCo News, he was a deputy editor at International Business Times, a theater critic for Newsweek, and managing editor of Show Business magazine

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