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SAN FRANCISCO, Oct. 10, 2016 -- Hagens Berman Sobol Shapiro LLP is continuing its investigation of possible securities law violations by Theranos, Inc. and its management.
If you are an investor in Theranos financing rounds and suspect you have lost money, contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/Theranos
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
Our initial investigation indicates that Theranos may have made significant misrepresentations about the state of the Company’s technology and operations when it solicited investments.
On October 6, 2016, the Wall Street Journal reported Theranos would shut down its blood-testing facilities and dismiss more than 40% of its employees after regulators banned Theranos CEO Elizabeth Holmes from owning or operating a lab for two years.
“We’re probing Theranos’s relationships with investors, the representations made to them, and this apparently self-interested shift in business strategy,” said Hagens Berman partner Reed Kathrein. ”Sources indicate that Theranos sold stock in a Series C round to investor in 2014 and 2015. Normally, by the time of a Series C round, the technology or product is proven and the funds are used to expand the products’ presence in the market.”
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].
About Hagens Berman
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
