Hagens Berman, Law Firm Leading Class Action Against Theranos, Seeks Information from Indirect Purchasers of Theranos Shares, Urges Investors to Learn Their Rights
SAN FRANCISCO – Hagens Berman, an investor-rights law firm leading the current class-action lawsuit against Theranos, is seeking information from purchasers of interests in Theranos and is urging investors to find out their rights.
If you purchased Theranos securities or an interest in Theranos through a third-party fund between July 29, 2013 and Oct. 5, 2016, contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, the firm’s partner leading the investigation, by calling 510-725-3000 or emailing [email protected].
U.S. Magistrate Judge Nathanael M. Cousins sided with Hagens Berman in the pending class action against Theranos, upholding the complaint brought against Theranos, Elizabeth Holmes and Ramesh “Sunny” Balwan in an order filed Apr. 18, 2017 on behalf of both direct and indirect purchasers, and allowing the case to move forward.
“The court has allowed the case for Theranos investors to continue, and we are now entering a critical juncture in our fight for investors’ rights,” said Steve Berman, managing partner of Hagens Berman. “We’re urging indirect purchasers of Theranos securities to step forward and aid the scores of those affected.”
The complaint filed Nov. 28, 2016, in the U.S. District Court for the Northern District of California, states that Theranos and its officers set in motion a publicity campaign to raise billions of dollars for Theranos and themselves, and to induce investors to invest in Theranos, all the while knowing that its “revolutionary” blood test technology was not yet viable.
On Friday, Apr. 21, 2017, the Wall Street Journal reported on papers filed in one of the court proceedings against Theranos, detailing how even Theranos directors were deceived, including that Theranos set up a secret company to purchase the commercial equipment it used instead of its “revolutionary technology” to hide the purchases.
Learn more about the investor lawsuit against Theranos.
About Hagens Berman
Hagens Berman Sobol Shapiro LLP is a consumer-rights class-action law firm with offices in 10 cities. The firm has been named to the National Law Journal’s Plaintiffs’ Hot List eight times. More about the law firm and its successes can be found at www.hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.