Elizabeth Holmes to testify in New York court

Elizabeth Holmes, the secretive founder of Theranos, the blood-testing company, will take the stand on Tuesday for the first time since she famously fled federal charges that she committed fraud. On Wednesday, Theranos’ board will confirm that she will remain as CEO — a position she lost after running away from the FBI in 2014 and 2016.

She had previously contended that she was under federal investigation, not fraud charges. However, the charges reflect a breach of Theranos’ representations about its non-invasive medical tests, its blood analysis technology, and the veracity of its company’s finances. In 2017, she stepped down as Theranos’ CEO, but was reinstated as one of the four co-founders in December of last year.

Though this will be her first appearance in a courtroom since leaving Theranos, it is not the first time she has testified in court. In 2014, she testified at a Senate Committee hearing on biomedical technology, before ducking questions about her previous role at Theranos.

In 2017, after a panel of analysts recommended Theranos’ stock be delisted from the New York Stock Exchange, she settled charges brought by the SEC and the Department of Justice, agreeing to a $500,000 fine and to attend a three-month ethics workshop. She also agreed to pay $500,000 in fines to the Department of Justice.

Read the full story at Fortune.


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