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Theranos Used Shell Company To Secretly Buy Outside Lab Equipment, Says Report

An anonymous reader quotes a report from Ars Technica: On Friday, the Wall Street Journal reported that the company “allegedly misled company directors” regarding its lab tests and used a shell company to buy commercial lab gear. These are just a few of the new revelations made by the Journal, which also include fake demonstrations for potential investors. The new information came from unsealed depositions by 22 former Theranos employees or members of its board of directors. They were deposed by Partner Fund Management LP, a hedge fund currently suing Theranos in Delaware state court. Theranos is also facing multiple lawsuits in federal court in California and Arizona, among others. The Journal, which did not publish the new filings, quoted former Theranos director Admiral Gary Roughead (Ret.), as saying that he was not aware that the company was using “extensive commercial analyzers” until it was reported in the press. The Journal described the filings as “some of the first substantive details to emerge from several court proceedings against the company, though they include only short excerpts from the depositions.”

Read more of this story at Slashdot.

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