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Theranos says it settled lawsuit with major investor

May 1, 2017

CNBC ------- Theranos said it has settled lawsuits with one of its biggest backers. The blood-testing start-up said on Monday it had reached a confidential settlement with hedge fund Partner Fund Management, which invested more than $96 million in Theranos in 2014. Partner Fund Management had accused Theranos of securities fraud, alleging that the company had attracted the investment '[t]hrough a series of lies, material misstatements and omissions."The fund was not immediately available to comment. Theranos has come under fire over the past few years, after Wall Street Journal investigations questioned the efficacy of its blood testing technology, raising flags for regulators. But Theranos has now resolved proceedings with the Centers for Medicare & Medicaid Services, as well as the Arizona Attorney General. To learn more click on the picture below to read the article.

 

 

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