Theranos, the Silicon Valley startup that claimed to have developed a revolutionary system for conducting extensive blood tests (240 of them) with a single drop, has been in trouble for years for failing to make good on its promises. Its CEO Elizabeth Holmes has now been accused by the US Securities and Exchange Commission (SEC) of defrauding investors to the tune of $700 million. The SEC says that Holmes and former president Ramesh Balwani “deceived investors into believing that its key product – a portable blood analyzer – could conduct comprehensive blood tests from finger drops of blood, revolutionizing the…
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