Theranos is finally dead, company to wind down

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Enlarge / Elizabeth Holmes speaks on stage during the closing session of the Clinton Global Initiative 2015 on September 29, 2015 in New York City. (credit: JP Yim/Getty Images)

Theranos has told its investors that the company will wrap up, paying “unsecured creditors its remaining cash,” according to the Wall Street Journal.

The company’s dissolution comes months after its top two executives, ex-CEO Elizabeth Holmes, and former president Ramesh “Sunny” Balwani, were federally prosecuted for criminal wire fraud.

Theranos, with Holmes at the helm, had claimed that it could run a slew of physiological tests with a simple pin-prick of blood. That assertion turned out to be false.

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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