Kessler Topaz Meltzer & Check, LLP Investigates Theranos, Inc. on Behalf of Investors
Theranos Inc. (“Theranos”) investors are encouraged to contact us at (888) 299–7706, firstname.lastname@example.org, or complete and submit the online form today.
On April 13, 2016, The Wall Street Journal reported that “federal health regulators have proposed banning Theranos Inc. founder Elizabeth Holmes from the blood-testing business for at least two years after concluding that the company failed to fix what regulators have called major problems at its laboratory in California.” Among other things, the regulators “found that Theranos failed to adequately correct 43 of 45 deficiencies identified by inspectors last year.”
Then, on April 18, 2016, The Wall Street Journal reported that federal prosecutors, with assistance from the FBI, had launched a criminal investigation “into whether Theranos Inc. misled investors about the state of its technology and operations.” As detailed in the article, federal officials requested information about Theranos in January and February, and followed those requests with “grand-jury subpoenas from a federal court in San Francisco in March.” In addition to the criminal probe, the article also reported that the SEC was “examining whether Theranos made deceptive statements to investors when it solicited funding.”
Finally, on October 5, 2016, Theranos announced that it would close its blood-testing facilities and reduce its workforce by more than 40 percent. As reported by The Washington Post, “[t]he move comes nearly three months after federal regulators banned Holmes from owning or running a medical laboratory for two years. … The probe followed reports by The Wall Street Journal in which former employees said the company’s tests were unreliable.”
Theranos investors who wish to discuss the investigation and/or their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706, or at email@example.com.