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Jurors are set to negotiate a second day on Tuesday in the fraud case. Elizabeth Holmes, founder of blood test startup Theranos.
Claiming not guilty, Ms. Holmes faces 11 counts of electronic fraud and conspiracy to commit electronic fraud. Closing arguments of the case concluded last week. Monday’s judges to start They meet at around 8:30 am They left the courthouse around 16:00
If the jury of eight men and four women does not decide on Tuesday, additional time will be given on Thursday. Other days will be scheduled on Thursday if needed.
Negotiations are the final phase of the case, which has lasted almost four months. long queues of spectators He can’t wait to watch a high-profile Silicon Valley entrepreneur defend himself in what has been seen as a referendum on start-up culture.
Ms. Holmes, 37, was the founder’s example even before the company floundered. He founded Theranos in 2003, leaving Stanford University the following year to focus on the company, raising $945 million from investors. At its peak, Theranos was worth $9 billion.
Ms. Holmes also sold her entrepreneurial vision and established herself as a Steve Jobs-like founder, right down to donning a black turtleneck uniform. He became a billionaire on paper, graced the covers of many magazines, and was widely celebrated.
But a 2015 Wall Street Journal investigation found that Theranos inflated many of its claims about its technology and business dealings. The company officially closed in 2018.
A decision in the case boils down to intent. Prosecutors argued that Ms. Holmes deliberately deceived investors and patients while seeking investment and employment for her new company. The defense tried to portray him as a bona fide entrepreneur whose failure was not a crime.
Testimony of Mrs. Holmes anchored in the defense’s case. He blamed senior lab workers for his company’s problems, argued that his own actions were misunderstood, and said he believed the claims Theranos made about its technology. She also said that her ex-boyfriend and Theranos’ former chief of operations Ramesh Balwani abused her emotionally and physically, denying the accusations.
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