businessinsider.com/elizabeth-holmes-theranos-trial-week-7-what-happened-2021-10
The seventh week of Theranos founder Elizabeth Holmes' fraud trial has come and gone. It featured revelations on plans for a $1 billion IPO and ways staff tried to skirt testing issues. Here's everything that happened in the trial in its seventh week. How Theranos tried to make unusual test results seem normal. Jurors also saw emails from 2013 between Edlin, Holmes, former Theranos vice president Daniel Young, and former COO and president Ramesh "Sunny" Balwani. Holmes replied, "The discrepancy will be a problem. We need to see if we can correct for it" Bryan Tolbert, the vice president of finance at investment firm Hall Group, testified that he had gathered from a meeting with Holmes that Theranos had raised $16 million in its first round. Young asked Edlin to change the reference ranges on some of the results, which made results appear to fall within the normal range. Former Pfizer director of diagnostics testified that he discouraged any deals with Theranos. Theranos expected to raise $30 million in a second funding round with an eventual plan to go public in 2008 via an IPO valued at $1 billion. Holmes' attorneys had repeatedly asked Judge Edward Davila to keep jurors from seeing the report. Theranos machines were sent to Africa to see if they could withstand high temperatures. A report boasted about Theranos machines' "superior performance" Weber said he had never authorized the Pfizer logo use, and he didn't know of anyone at Pfizer who had.
Posted by
ashcrofts
Tap to copy the Short Url to this post:
bto.sh/hr2mirvn 
All Business News on a Single Page. Join for Free →