theranos

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That's a great article with some nice tidbits.

Holmes and Balwani dated? Eagle 1 and Eagle 2...How romantic.

"Thank you Carreyrou" needs to be chanted. Theranos employees should be ashamed of their chant after he reported the truth. They better be looking for new jobs.
 
Sooo... Lizzie's dad worked for Enron. The apple didn't fall too far from the tree.

I do kinda get her process- I've seen it before in industry. It's called "Fake it till you make it." I'm sure Holmes figured that she wold get the money to pour in, and by the time the contracts were closed with customers, the scientists would have figured it all out and no one would have known what an empty shell the whole exercise was.
 
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Theranos shutting down it's labs. Sounds like they are wanting to now sell devices, like the one she brazenly showed off at AACC...Good luck with that.

Feel bad for all the employees losing their jobs, but then again supposedly some chanted "F**k you Carreyrou after the first wall street journal article came out.

http://www.wsj.com/articles/theranos-retreats-from-blood-tests-1475713848
 
Ding Dong! The Witch is dead. Which old Witch? The Wicked Witch!
Ding Dong! The Wicked Witch is dead.

Wake up you sleepy head, rub your eyes, get out of bed.
Wake up, the Wicked Witch is dead. She's gone where the goblins go,
Below - below - below. Yo-ho, let's open up and sing and ring the bells out.
Ding Dong' the merry-oh, sing it high, sing it low.
Let them know
The Wicked Witch is dead!
 
Not quite dead but pretty close. Still some more cash to burn through while they try to reboot as a device manufacturer. With their bad reputation in the industry, I doubt very many people will be lining up to do business with them.

The politicians in Arizona look so stupid after this fiasco. Direct access testing is just more laboratory waste.
 
WEBB PINKERTON said:
Not quite dead but pretty close. Still some more cash to burn through while they try to reboot as a device manufacturer. With their bad reputation in the industry, I doubt very many people will be lining up to do business with them.

The politicians in Arizona look so stupid after this fiasco. Direct access testing is just more laboratory waste.
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The governor was on the front page of the Arizona Daily Star with Homes when the bill was signed. They look like fools but so far they haven't taken much heat for it.


.
 
http://www.wsj.com/articles/major-investor-sues-theranos-1476139613

Hedge fund accuses embattled company of a “series of lies” to attract investment of nearly $100 million
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One of Theranos Inc.’s biggest financial backers has sued the embattled startup and its founder for allegedly lying to attract its nearly $100 million investment, according to a fund document and people familiar with the matter.

Partner Fund Management LP, a San Francisco-based hedge fund, filed the suit in Delaware Court of Chancery Monday afternoon, a letter to the hedge-fund’s investors says.
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WEBB PINKERTON said:
Theranos shutting down it's labs. Sounds like they are wanting to now sell devices, like the one she brazenly showed off at AACC...Good luck with that.

Feel bad for all the employees losing their jobs, but then again supposedly some chanted "F**k you Carreyrou after the first wall street journal article came out.

http://www.wsj.com/articles/theranos-retreats-from-blood-tests-1475713848
Click to expand...


While I feel sad for people losing their jobs, most of my lab colleagues saw this for what it was right from the start. Any board certified medical lab scientist should have recognized the issues pretty quickly. I actually had a theranos recruiter try to get me to work there. yeah, no thanks.
 
Thrombus said:
The CAP is too busy trying to extort pathologists and waste red tape on all the law abiding laboratory professionals
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this is true. i am not a member of cap and do not use their services for lab accreditation. i do not believe they represent the best interests of our specialty.
 
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jupiterianvibe said:
this is true. i am not a member of cap and do not use their services for lab accreditation. i do not believe they represent the best interests of our specialty.
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After our last inspection by a "professional inspector", I am moving all my labs away from CAP also. They are terrible and I encourage all pathologists to quit their organization by membership and move all inspection and proficiency testing away from them.
 
I miss the "Pathologists are groovy" campaign. Who can forget such a creative campaign from a few years ago? Maybe they were too busy working on that to notice the obvious fraud taking place at Theranos. If you claim your mission is serving patients by advocating excellence in the practice of lab medicine, you should be out front preventing this from happening.

The proficiency testing needs to be spun off. Conflict of interest anyone?
 
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WEBB PINKERTON said:
The whistleblower is named. Good read. Kudos to him for exposing the fraud

http://www.wsj.com/articles/theranos-whistleblower-shook-the-companyand-his-family-1479335963
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Thanks for the article! Very good read and troubling all around. But yeah, kudos to the young Shultz for doing the right thing. Scary thing is that probably the only reason he got through it was because of his family connections, otherwise any other civilian with no VIP connections would have been bullied and legally threatened into silence.
 
Wow! Great article and a real eye opener. Not only is Holmes a crook and con artist,
but a malevolent one at that. She really needs to do some hard time in a federal
penitentiary.
 
Sounds like Sunny Balwani is just as culpable if Tyler is telling the truth. He deserves the same fate as Eagle 1.

Now the law firm is cutting ties.
http://www.wsj.com/articles/theranos-and-david-boies-cut-legal-ties-1479514351

There is going to be no re-boot for Theranos. If I were one of their remaining employees, I would be leaving ASAP. This isn't going to end well.

Still waiting for CAP to say something.....:yawn:
 
WEBB PINKERTON said:
Sounds like Sunny Balwani is just as culpable if Tyler is telling the truth. He deserves the same fate as Eagle 1.

Now the law firm is cutting ties.
http://www.wsj.com/articles/theranos-and-david-boies-cut-legal-ties-1479514351

There is going to be no re-boot for Theranos. If I were one of their remaining employees, I would be leaving ASAP. This isn't going to end well.

Still waiting for CAP to say something.....:yawn:
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The CAP would rather pick on the little guy for not following their interpretation of some obscure nonsensical regulation. A disastrous company harming patients destroying the profession? Not their cup of tea (they are afraid of getting sued by the big boys...and girl with deep pockets)
 
It was very disappointing to watch our organizations sit back while such an obvious fraud took place. Patients were harmed. It was yet another black eye for our profession. Wouldn't be surprised if it leads to excessive crack downs on LDTs at some point.

Just when you thought I our profession had hit bottom....Has anyone seen those ads on TV for Telomere testing?
Drop 89 bucks and find out how long your Telomeres are, then they assign you your "Telomere age" and act like that will cause you to start exercising and making lifestyle changes.

Gotta love medicine in this country.
 
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haha yasssssss medicine in this country tsk tsk

So... I wonder when she these people are going to get indicted for criminal activity? Anyone on here think what they did doesn't deserve prosecution?
 
Heading to zero. The remaining employees better be looking for other employment.
 
Theranos settlement means it could have a lab again in 2019

Theranos has been headed toward disaster for a while through its questonable blood testing methods, but it might have just avoided the worst possible outcome. The biotech outfit has reached a settlement with the Centers for Medicare & Medicaid Services that should end the legal and regulatory fights between the two. In return for Theranos dropping appeals of both its 2-year lab ban and sanctions on its Newark lab, CMS has decided against revoking Theranos' Clinical Laboratory Improvement Amendments (CLIA) certificates and reducing the civil financial penalty to $30,000. Theranos is voluntarily giving up the certificates, as it's not running labs that would need them.

This doesn't put Theranos completely in the clear. It still has to worry about investigations, for a start. And even if it can put all its regulatory troubles behind it, there's still the matter of regaining the shaken confidence of investors and would-be customers as it pivots toward research and development. That's much, much harder. Nonetheless, Theranos is likely happy to relieve some legal pressure and raise the possibility of opening labs once its ban is over in 2019.
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Theranos fails to win dismissal of fraud class action by ‘indirect’ investors

Even if the embattled, privately-held biotech company Theranos somehow manages to persuade all of its shareholders to participate in a tender offer that requires them to release litigation claims, it will still have to face a fraud class action by “indirect” investors and their lawyers at Hagens Berman Sobol Shapiro and Robbins Geller Rudman & Dowd.

On Tuesday, U.S. Magistrate Judge Nathanael Cousins of San Jose denied Theranos’ motion to dismiss the class action, which asserts claims under common law and California’s Corporations Code. Lead plaintiffs in the case are two investors in investment funds that held Theranos shares, which were not sold on the open market.

Theranos lawyers from Wilmer Cutler Pickering Hale & Dorr and Cooley had argued that the lead plaintiffs can’t hold the company and its officers liable for securities fraud because they didn’t actually buy Theranos shares. Judge Cousins agreed with the company that plaintiffs can’t bring claims under a section of the state code that allows rescission of shares sold fraudulently. But he allowed the class to move forward with allegations under a different section, which, according to the judge, is intended to prevent fraudulent manipulation of the market. “It focuses on the actions of the seller of the securities, not the relationship between seller and buyer,” Judge Cousins said. He also found the plaintiffs had met the heightened pleading standard for fraud claims in federal court.
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Don't you wish you had 100 million dollars you could just throw away?
 
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Before we get another Theranos thread locked....

Lock her up. Lock her up.

If it wasn't for the wall street journal and a whistleblower more patients would have been harmed than already were. People in the lab community let the public down big league.
 
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Vandalia said:
Federal prosecutors generally move slowly in building cases, because they can. I would definitely not assume she will escape criminal prosecution.
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Hope you’re correct. It is unusual though for the S.E.C. to settle a case while a criminal investigation is underway.
 
Inside 'Bad Blood,' the new Theranos book from John Carreyrou

Carreyrou writes vividly about getting the tip that sparked the story (it came by phone, from a pathology blogger), taking a breakthrough call while watching his sons play at a Brooklyn park, and getting information that led him to conclude that he or Schultz was being surveilled by Theranos.

Could it be The Pathology BLAWG ????. Let's hope he or She comes back!
 
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