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Theranos’ Elizabeth Holmes personally attends the trial before the court



Hearings for Theranos founder Elizabeth Holmes began in federal court in San Jose, California, on Tuesday, as hearings on her upcoming trial continue.

Holmes, who is pregnant, personally showed up for prior motions, where her lawyers pressed to leave certain things out of the pending trial.

Issues discussed Tuesday include text exchanges, regulator reports and information related to Holmes’ fortune, as reported by The Wall Street Journal.

She has another day of prior trial on Wednesday.

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Holmes, once estimated to be a billionaire, had a spectacularly prominent place in the technology community based on her vision of building a simplified blood testing system.

At its peak, the company she founded in 2003 was valued at more than $ 9 billion after raising nearly $ 900 million from investors, according to The Wall Street Journal. However, it is alleged that Holmes misrepresented his business, her technology and its capabilities.

Following the launch of subsequent inspections triggered by a Wall Street Journal investigation, lawsuits and bids that fell through, the company had less than $ 200 million at the end of 201

6 – less than 25% of the amount it had originally raised from investors. Theranos generated no revenue in 2015 or 2016.

The company was closed down in 2018.

Holmes’ lawyers claimed Tuesday that prosecutors have no evidence that the blood tests did not work, according to The Journal.

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Theranos, Holmes and former President Ramesh “Sunny” Balwani agreed on a solution with the SEC claiming that they committed a “massive fraud” in lying about one of the company’s key products. In addition, Holmes was removed from control of the company and is barred from serving as an officer or director of any public company for the next decade.

Holmes and Balwani were indicted by a grand jury in June 2018, which they are still defending against.

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Holmes’ trial is scheduled to take place in August, while Balwani’s trial is set to begin early next year.


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