Some very interesting news about the continued fall from grace for Elizabeth Holmes and Theranos - well summarised by StatNews (great site imo):
What you should know about the Theranos news
In case you missed it, the Securities and Exchange Commission has charged Theranos and CEO Elizabeth Holmes with fraud, alleging the Silicon Valley upstart deceived investors by exaggerating and making false claims about its technology.
The claims: Theranos sold investors on its blood testing technology, but also its financial health. The SEC’s complaint says Theranos projected a thousand times more revenue in 2014 than it actually earned.
The settlement: Both Holmes and Theranos are settling the cases, STAT’s Rebecca Robbins reports. For Holmes, that means paying a $500,000 penalty, giving up voting control of the company, returning shares obtained during the fraud, and not serving in leadership at a public company for a decade.
The next steps: Around early 2016, federal prosecutors launched a criminal investigation, separate from this settlement, into whether Theranos misled investors. The Wall Street Journal reports that investigation is still underway.