Elizabeth Holmes files her case in fraud lawsuit – .

0
13
Elizabeth Holmes files her case in fraud lawsuit – .


When asked how it affected her work at Theranos, Ms Holmes said it was difficult to separate where her influence started and ended. In legal documents filed before the trial, Mr. Balwani strongly denied the abuse allegations.

But Ms Holmes also admitted to making mistakes. She said she regretted adding the logos of drug companies to the validation reports she sent out to investors, leading them to believe drug companies approved of Theranos’ technology. She said she also regretted the way she handled a Wall Street Journal briefing with private investigators and the legal attacks on former employees who spoke to the reporter. And she said she allowed the incorrect information to be released in a positive Fortune cover story about her.

Ms. Holmes concluded part of her testimony with a speech about her intentions to introduce Theranos to investors, patients and the press.

“I wanted to convey the impact,” she said. “I wanted to talk about what this company could do in a year, in five years, in 10 years. They weren’t interested in today, tomorrow or next month, they were interested in what kind of change we could make.

All of this was intended to support the main argument of the defense, as set out in the opening statements in September. According to her lawyers, Ms. Holmes made mistakes. But his mistakes were not a crime. She was naïve and ambitious, they said, but never intended to cheat.

“Theranos did not consider mistakes to be crimes. They saw them as part of the path to success, ”said Lance Wade, one of Ms. Holmes’ attorneys, in her opening statement.

During their cross-examination, prosecutors sought to dismantle Ms Holmes’ apology. They noted that Theranos had shared many other trade secrets with its partners, who signed nondisclosure agreements. Mr Leach reported times when Ms Holmes allowed false or misleading information about Theranos to spread to investors and patients.

Earlier in the trial, in testimony from 29 witnesses called by prosecutors, Ms Holmes’ lawyers sought to dig holes and confuse the facts of the case. They attacked investor credibility, trying to show that they should have done better research on Theranos before investing to understand the risks and details of its business. And they tried to argue that the patients who testified that they received disturbing blood test results from Theranos were not qualified to interpret them.

Erin Woo contributed reports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here