Thursday, December 13, 2018

Theranos founder Holmes stripped of control of embattled company – Business

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The SEC said Holmes must also return millions of shares to the privately-held company

Thomson Reuters

Posted: Mar 14, 2018 12:55 PM ET
Last Updated: Mar 14, 2018 12:58 PM ET

Theranos Inc and its Chief Executive Elizabeth Holmes have agreed to settle fraud charges in a deal that strips her of control over the embattled blood-testing company, among other penalties, U.S. regulators said on Wednesday.

As part of the settlement, the Securities and Exchange Commission said Holmes must also return millions of shares to the privately-held company and cannot serve as an officer or director of a public company for 10 years.

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