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Civil case

Securities and Exchange Commission v. Theranos, Inc. and Elizabeth Holmes

Authority: US Securities and Exchange Commission, action in the US District Court for the Northern District of California
Case number: Not published
Filed or opened: 14 March 2018
Organization: Theranos, Inc.
Current stage: Settled by Theranos and Holmes without admitting or denying, subject to court approval.
Outcome: Settlement without admission or denial.

Decisions and steps

14 March 2018Settlement announced, including a US$500,000 penalty and a 10 year officer and director bar for Holmes^S1

Claims this case bears on

Contradicted93
Theranos represented to investors that its portable blood analyzer could run a full range of blood tests from finger drops of blood.
Regulator statement, 14 March 20182 records citedProduct claims
Partly supported83
The SEC said in March 2018 that Theranos, its CEO and its former president carried out a massive fraud, and that the company was liable for it.
Regulator statement, 14 March 20184 records citedFraud

Sources

S1Tier A Theranos, CEO Holmes, and Former President Balwani Charged With Massive FraudUS Securities and Exchange Commission. Regulator press release. 14 March 2018.Supports the charges, the company claims and the SEC's account of the device. The settlement is not a finding.