• Theranos founder ousted

    4 monthes ago - By Boston Herald

    NEW YORK - Elizabeth Holmes, a Stanford University dropout once billed as the “next Steve Jobs,” has forfeited control of Theranos, the blood-testing startup she founded, and will pay $500,000 to settle charges that she oversaw a “massive fraud.” Under an agreement with the Securities and Exchange Commission, Holmes is barred from serving as an officer or director of a public company for 10 years. The SEC said yesterday that it will pursue its case against the president of the company, Ramesh “Sunny” Balwani, in federal court.
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