Jury Finds Blood Testing Firm Founder Elizabeth Holmes Guilty
Elizabeth Holmes was found guilty in 4 of 11 charges against her as a jury decided she misled investors over the promise of blood testing tech startup Theranos. The New York Times reports on what will happen to her now, as AP reports it's "unlikely" Silicon Valley investors will learn anything from the case.
The Wall Street Journal:
The Elizabeth Holmes Verdict: Theranos Founder Is Guilty On Four Of 11 Charges In Fraud Trial
A federal jury convicted Elizabeth Holmes, the startup founder who claimed to revolutionize blood testing, on four of 11 charges that she conducted a yearslong fraud scheme against investors while running Theranos Inc., which ended up as one of Silicon Valley’s most notorious implosions. The verdict caps a steep fall for the former Silicon Valley star who once graced magazine covers with headlines such as “This CEO is Out for Blood” and emulated Apple Inc. co-founder Steve Jobs by wearing black turtlenecks. (Randazzo and Somerville and Weaver, 1/3)
The New York Times:
What Happens Next To Elizabeth Holmes
After the verdict was read, defense and prosecution lawyers discussed plans for Ms. Holmes’s sentencing, the status of her release and the fate of the three hung charges. Judge Edward J. Davila of the Northern District of California, who oversaw the case, said he planned to declare a mistrial on those charges, which the government could choose to retry. The parties agreed that Ms. Holmes would not be taken into custody on Monday. A sentencing date is expected to be set at a hearing on the three hung charges next week. (Woo, 1/3)
AP:
What Will Silicon Valley Learn From Holmes' Conviction?
The fraud conviction of former Theranos CEO Elizabeth Holmes could offer Silicon Valley’s culture of hubris and hype some valuable lessons. Will anyone in the tech industry actually take this moment to heart? Don’t count on it. (Liedtke, 1/4)
