Former Theranos CEO Elizabeth Holmes trial date set: Report
A federal judge has reportedly set an October trial date for former Theranos CEO Elizabeth Holmes for allegedly defrauding investors and doctors by giving them fake medical results.
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Continue Reading Below
Former Theranos CEO Elizabeth Holmes’ trial date has been pushed back by a couple of months due to the ongoing coronavirus pandemic.
The trial is now scheduled to begin Oct. 27 in U.S. District Court in San Jose, California, multiple media outlets reported Wednesday,
It was previously announced that jury selection for her trial would begin at the end of July, but a judge said during a status conference via telephone Wednesday that it would be postponed over safety concerns.
ELIZABETH HOLMES: 5 THINGS TO KNOW
The judge also reportedly left open the possibility that the date could be pushed back further, depending on the pandemic.
Holmes, who was once estimated to be a billionaire, had a spectacular rise to prominence in the technology community based on her vision of building a simplified blood-testing system.
But she had an equally spectacular fall and has been accused of misleading patients, doctors and investors about her blood tests.
CORONAVIRUS STIMULUS CHECKS: WHO GETS MONEY AND WHEN?
Theranos, Holmes and former president Ramesh “Sunny” Balwani agreed to a settlement with the SEC, which alleges they committed a “massive fraud” in lying about one of the company’s key products. In addition, Holmes was stripped of control of the company and is barred from serving as an officer or director at any public company for the next decade. She was forced to return to investors 18.9 million shares, which the SEC said were obtained through fraud, and paid a $500,000 penalty.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Holmes and Balwani were charged with raising more than $700 million from investors through a fraudulent scheme that took place over the course of years. Holmes and Balwani were indicted by a grand jury in June, which they are still defending themselves against.
In February, Holmes moved to have the fraud charges filed against her dismissed.
CLICK HERE TO READ MORE ON FOX BUSINESS
Source: Read Full Article