And in April, court filings reported by The Wall Street Journal alleged that Theranos used a shell company to purchase commercially available lab equipment and faked blood tests in presentations with prospective investors and business partners.
Theranos just settled 2 lawsuits with one of its biggest investors
Theranos has settled its lawsuits with a hedge fund that invested $96.1 million in the company.
The settlement terms were confidential, Theranos said in a release.
"Theranos is pleased to have resolved both lawsuits with PFM," Theranos' general counsel David Taylor said in a news release. "Although we are confident that we would have prevailed at trial, resolution of these two cases allows our tender offer to go forward and enables us to return our focus where it belongs, which is on executing our business plans and delivering value for our shareholders."
Before October 2016, Theranos's business model was based around the idea that it ran blood tests using proprietary technology that requires only a small amount of blood.
This is the third major settlement that Theranos has arrived at in recent weeks.
- Theranos said that it had settled up with Centers for Medicare and Medicaid Services
- the government agency responsible for regulating blood-testing labs.
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