Hagens Berman Continues its Investigation of Theranos, Inc.’s Representations to Investors on News of Possible Regulatory Ban
San Francisco - Hagens Berman Sobol Shapiro LLP is continuing to investigate Theranos, Inc. for potential investor fraud. If you suspect that you may have losses in your investments in Theranos, Inc. or have knowledge relevant to the investigation, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000, emailing [email protected] or visiting https://www.hbsslaw.com/cases/theranos.
The Wall Street Journal reported on and published, today, a March 18 letter to Theranos from the Department of Health & Human Resources Centers for Medicare and Medicaid Services in which they proposed sanctions against Theranos, including a ban on its founder Ms. Elizabeth Holmes and Theranos’s president, Sunny Balwani, preventing it from owning or running any other lab for at least two years.
Hagens Berman is probing Theranos’s relationships with its investors, and representations made to investors. Sources indicate that Theranos sold stock in a Series C round to investors in 2014 and 2015. Usually, by the time of a Series C round, the technology or product is proven and the funds are used to expand the product’s presence in the market.
If you are an investor in the Series C rounds, or any other form of investing in Theranos, or have information relevant to our investigation, please feel free to contact us. At this stage, Hagens Berman is only investigating this matter and Theranos’s claims.
Whistleblowers: Persons with non-public information regarding Theranos should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the SEC whistleblower program, whistleblowers who provide original information may receive rewards up to 30 percent of any successful recovery made by the SEC. For more information concerning your whistleblower options, call Reed Kathrein at 510-725-3000 or email [email protected].
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Reed Kathrein, 510-725-3000