[144] In 2016, Forbes revised the estimated net worth of the company to $800 million taking into account the $724 million of capital raised. REUTERS/Benoit Tessier/File Photo. Clear thinking appears to be in short supply. After all, successful andfamous names automatically correlate into proficient, dedicated and focused Board Directors, correct? Threatens Crippling Sanctions", "US regulators want to bar Elizabeth Holmes from Theranos for 2 years", "Don't Blame Silicon Valley for Theranos", "Theranos founder Elizabeth Holmes asked by Congressional committee to detail company's compliance efforts", "Theranos Queried on Blood Test Failures by House Democrats", "Theranos Voids Two Years of Edison Blood-Test Results", "Theranos Says Only 1% of Results Affected; Some Doubt Tests", "Walgreens scraps its partnership with Theranos, effective immediately", "Theranos Dealt Sharp Blow as Elizabeth Holmes Is Banned From Operating Labs", "Theranos to Appeal Regulatory Sanctions", "Troubled Theranos hits another wall as Zika test withdrawn", "Theranos Halts New Zika Test After FDA Inspection", "Theranos to Close Labs and Lay Off 340 Workers", "Theranos will close labs and Walgreens testing sites, laying off hundreds", "Theranos throws in the towel on clinical labs, officially pivots to devices", "Second Theranos Lab Failed U.S. Additionally, his seemingly tireless promotion of Holmes led to numerous large investments in Theranos. Most of the company's remaining employees had been laid off on the previous Friday, August 31. This was likely because of a well-known Edison quote: "I've not failed. They included: Henry Kissinger (former United "Joel Rosentblatt, "Theranos Investors Turn Scavengers on Wounded Unicorn's Remains", "Theranos Lays Off Most Of Its Workforce", https://www.theverge.com/2020/3/18/21185006/softbank-theranos-coronavirus-covid-lawsuit-patent-testing, "Debunked Blood-Testing Startup Theranos Is Still Getting Patents From Federal Agency", "Theranos chief executive Elizabeth Holmes charged with massive fraud", "Securities and Exchange Commission, vs. Elizabeth Holmes and Theranos, Inc., Complaint", "Theranos and CEO Elizabeth Holmes Accused of Fraud by SEC", "Theranos CEO Holmes and former president Balwani charged with massive fraud", "Elizabeth Holmes indicted on wire fraud charges, steps down from Theranos", "Theranos Founder and Former Chief Operating Officer Charged In Alleged Wire Fraud Schemes", "Theranos founder Elizabeth Holmes' trial likely won't take place until next year", "Elizabeth Holmes denies destroying evidence in Theranos case", "Elizabeth Holmes Found Guilty of Four Charges of Fraud", "Elizabeth Holmes sentenced to 11 years in Theranos fraud case", "Sunny Balwani trial starts two months after Elizabeth Holmes's guilty verdict", "Former Theranos exec Sunny Balwani convicted of 12 counts of fraud", "Sunny Balwani, Elizabeth Holmes' right-hand man at Theranos, has been sentenced to nearly 13 years in prison", "Blood-Testing Firm Theranos to Dissolve", "How To Run 30 Health Tests On a Single Drop of Blood", "Here's what we know about how Theranos' 'revolutionary' technology works", "What Exactly Was The Theranos Edison Machine Supposed To Do? [22][23], In March 2015 the Cleveland Clinic announced a partnership with Theranos to test its technology and decrease the cost of lab tests. When Mr. Mattis joined the board, he invested $85,000 in Theranos as a show of support, which he said was a significant sum for someone who had been in government service for 40 years. He also recused himself from any military contracts for ethical reasons. Early stage private companiesas well as established multi-national public companiescommonly aspire for well-known names to join their Boards. [78] On May 1, 2017, Theranos announced that it had reached an undisclosed settlement with Partner Fund Management LP (PFM). View Jobs in Government / View Jobs at Engineers Board of Kenya (EBK) Posted: Feb 28, 2023. David Boies: Boies was one of Theranos' high-profile lawyers and sits on the board of directors. Theranos' mission: a blood test requiring only a pinprick of blood, enough to run dozens of medical tests on the startup's hi-tech machines. [155], Also in January 2019 a documentary film entitled The Inventor: Out for Blood in Silicon Valley about Holmes and Theranos was released. Have something that could benefit the'Across The Board'community and further elevate leadership? They cite a one-way plane ticket to Mexico she booked for Jan. 26, 2022, three weeksafter her conviction onfour counts of fraud and conspiracy. In operating its lab, Theranos went months without a director, which violated licensure requirements. When Theranos eventually appointed a lab director, it was a dermatologist who was not actually qualified to run a clinical laboratory and was mostly an absent figurehead. Boards can be an interesting, yet conflicted, group. [30], In February 2015 Stanford professor John Ioannidis wrote in the Journal of the American Medical Association that no peer-reviewed research from Theranos had been published in medical research literature. [99][100] The jury selection for the trial was to begin on July 28, 2020, and the trial was to have commenced in August 2020; however, the COVID-19 pandemic led to a proposed October date,[101] before the trial for Holmes was rescheduled to begin on August 31, 2021, with Balwani's trial pushed back further to 2022. The trial of CEO Elizabeth Holmes saw several former employees, board directors and even Holmes herself testify Kari Paul in San Francisco Mon 3 Jan 2022 It could be argued that this is becoming less true due to their increasinglycompeting priorities,overboarding (serving on too many Boards), lack of next-gen Director qualities,or simply the thought process that their'involvement'is enough. This button displays the currently selected search type. [154] A television drama miniseries with the same name, based on the eponymous podcast, premiered on Hulu in the US, Star+ in Latin America and Disney+ internationally on March 3, 2022, with Amanda Seyfried playing Holmes. Over 200 experts have done so to-date. This seems to be the key to a robust boardbuilding a team of diverse skills and perspectives, where individuals are held accountable and dissent is encouraged. Hevery quickly encountered blatant acts of fraudulent claims and other actions that continuously put patients requesting blood tests at risk. 5. We were unable to help her on the fundamental issues that she was grappling with if we only saw them in the rearview mirror, Mr. Mattis said. In January 2017, incoming U.S. Secretary of Defense nominee James Mattis resigned from the Theranos board. How can this be? Software Full Name: Adobe Premiere Pro 2023. However, risks can be reduced by Board Directors remaining objective and truly supporting proper governance, thus purposefully avoiding groupthink andcovert risk. Consider the board membership of Theranos: George Schultz, former Secretary of State, Henry Kissinger, former Secretary of State, General Jim Mattis, former The fast-growing startup is now under civil and criminal investigations by the U.S. Securities and Exchange Commission, the Department of Justice and federal health regulators. After The Journal reported that Theranos was performing only a few blood tests on its own machines while doing the rest with traditional blood analyzers, the board scrambled to gauge the reports accuracy, according to emails introduced as evidence. At just 12.9 millimetres (0.51in) in height, the nanotainer held a couple of drops of blood. [117] In March 2016, a study authored by 13 scientists appeared in the Journal of Clinical Investigation, where it was stated that the company's blood test results were flagged "outside their normal range 1.6 more often than other testing services", that 68 percent of lab measurements evaluated "showed significant interservice variability", and that "lipid panel test results between Theranos and other clinical services" were "nonequivalent". Here's a look at what happened to Theranos' board of directors: 1. [142][143] The company had significant news coverage starting in September 2013 after profiles in the San Francisco Business Times and The Wall Street Journal. It is not fully clear what exactly this Board of Counselors was tasked with, other than the likely counseling of each otherin coming to terms with what had happened and offering advice to protect their reputations. Anyone can read what you share. How To Change Board Of Directors Nonprofit? [44], Following the WSJ story, the history of FDA interactions with Theranos was scrutinized. The company grew to be worth more than $9 billion, employing more than800 employees attracting investors such asLarry Ellison, founder of Oracle; Rupert Murdoch, billionaire media mogul; and the Walton family, who founded Walmart. [72][73] Also that month, the company faced lawsuits from several different entities including Walgreens[74][75] and Arizona Attorney General Mark Brnovich. [31][32] In May 2015, University of Toronto Professor Eleftherios Diamandis analyzed Theranos technology and concluded that "most of the company's claims are exaggerated. Our Vision The Board has a vision for "A safe, efficient and effective engineering infrastructure, systems and processes for Kenya The Boards Mission The Boards mission is "To ensure production of competent According to a new report from The New York Times, all but two of Theranos' board Learn why strategy is so relevant to you personally,your organization, and your role as a Board Director. [118], In August 2016 the company introduced a new robotic capillary blood testing unit named "miniLab" at the 2016 annual meeting of the American Association for Clinical Chemistry, but did not present any data supporting the claimed abilities of the device. [10] By June 2016, it was estimated that Holmes's personal net worth had dropped from $4.5 billion to virtually nothing. Ramesh Balwani, known as Sunny, was Theranoss president and chief operating officer from 2009 through 2016 and was in a romantic relationship with Holmes. [13], In April 2016 Theranos announced its medical advisory board which included past presidents or board members of the American Association for Clinical Chemistry. [119][120][121] The miniLab was allegedly capable of carrying out a range of tests from a small amount of blood. Opinions expressed by Forbes Contributors are their own. Theranos officials said the funds had mischaracterized the exchange offer, which was discussed before the suit was filed. The company discontinued testing at its Newark location while attempting to resolve the issues. [8][39] Former employees of reputation management firm Status Labs said that Theranos had hired the firm to discreetly erase mentions of the WSJ's reporting from its Wikipedia article, despite the activity being a violation of the website's terms of use. The company has been under intense scrutiny since 2015, when allegations surfaced that its blood-testing technology was not as accurate as claimed. [85], In December 2017 Fortress Investment Group, a wholly owned company of Softbank Group, loaned $100 million to Theranos for 4% of the company. WebExecutive Board and Management Teams with a Track Record in Delivering Growth. [24][25] In July 2015, Theranos became the lab-work provider for Pennsylvania insurers AmeriHealth Caritas and Capital BlueCross. [28][29] Theranos was named the 2015 Bioscience Company of the Year by the Arizona BioIndustry Association (AzBio). Advisory Boards meet monthly. The evidence needed to back Theranos claims is now absent, rendering the company even more suspect. George Shultz, William Perry, Sam Nunn, Henry Kissinger and Bill Frist fall into the first category, Gary Roughead and James Mattis fall into the second, and former Wells Fargo CEO Richard Kovacevich and former Bechtel chief Riley Bechtel fit in the third. She raised $945 million and was crowned the worlds youngest billionaire, but was accused of lying about how well Theranoss technology worked. These claims were later proven to be false.[7][8][9]. Reach outdirectly to Mark A. Pfisterto assess and enhance your Board's effectiveness with hisBoard Director Coaching,Consulting &Advisoryofferings, andInternational Speaking Tourtopics. WebExecutive Board and Management Teams with a Track Record in Delivering Growth. He was excited by the prospect of the militarys using Theranoss blood analyzers, which Ms. Holmes claimed could perform thousands of different tests faster, cheaper and more accurately than traditional lab tests, using only a finger stick of blood. Known as'The Board Architect,'he is also the inventor of the'Board as a Service'(BaaS) engagement model and an expert Project Executivefrequently advising on strategic global initiatives in their initiation and operational phases<< read full biohere>>. [18] In 2013, Theranos partnered with Walgreens to offer in-store blood tests at more than 40 locations. Sonnenfeld insists that active participation and open dialogue are crucial for a board to fulfill its role: Well be fighting the wrong war if we simply tighten procedural rules for boards and ignore their more pressing needto be strong, high-functioning work groups whose members trust and challenge one another and engage directly with senior managers on critical issues facing corporations. Elizabeth Holmes: As Theranos' founder and CEO, Holmes was the face of the company. She was ousted from her role as CEO in June 2018 and resigned from the board of directors in September 2018. She still owns a majority stake in the company. 2. Ramesh "Sunny" Balwani: Balwani was Theranos' president and COO. He was also Holmes' boyfriend. WebTheranos Inc. (/ r. Propose an article topic or let us know your expertise areaand let's work through the details. Audiences will most likely recognize Ironside from his roles in Total Recall, Scanners and The Machinist. Theranos Inc. (/r.n.os/) was an American privately held corporation[2] that was touted as a breakthrough health technology company. James Mattis, the retired four-star Marine Corps general and former defense secretary, testified on Wednesday at the fraud trial of Elizabeth Holmes, the founder of Mr. Mattis is the most prominent person to take the stand thus far in the high-profile jury trial, which began in August. ", "Theranos Patent for Point of Care System", "The Narrative Frays for Theranos and Elizabeth Holmes", "Theranos' Scandal Exposes the Problem With Tech's Hype Cycle", "Theranos Chief Yields to Calls for Proof of Blood Test's Reliability", "Theranos Has Still Not Begun a Promised Validation Study", "Evaluation of direct-to-consumer low-volume lab tests in healthy adults", "Elizabeth Holmes, Founder of Theranos, Falls From Highest Perch Off Forbes List", "Expecting Data From Theranos, Lab Experts Get New Product", "Theranos Presents Data On New Blood Test Machine, Remains Mum On Previous Technology", "Elizabeth Holmes's First Public Presentation of Theranos Data Falls Short", "Kilroy Realty Corp. buys Theranos headquarters in Palo Alto", "Theranos Founder Faces a Test of Technology, and Reputation", "Theranos adds Kovacevich to all-star board", "Quiet Theranos adds former Wells chief Kovacevich, 'Mad Dog' Mattis to power-packed board", "Theranos Adds Startlingly Well-Qualified Medical Board", "Theranos just made a crucial move that could help its reputation", "Heavy Hitters Join Theranos Advisory Board", "Theranos shuffles leadership; president retires", "Theranos Executive Sunny Balwani to Depart Amid Regulatory Probes", "Theranos COO departs as embattled startup adds to board", "Embattled Blood Lab Theranos Makes a Bid to Regain Confidence", "Theranos Dissolves High-Profile Board of Counselors", "Theranos Investor Riley Bechtel Steps Down From Board", "Theranos: Testing times lie ahead for secretive blood-testing firm", "Theranos raises $45M to help patients track drug reactions", "Theranos growing close to home in Palo Alto", "The Fall Of Theranos And The Future Of Science In Silicon Valley", "This Woman's Revolutionary Idea Made Her A Billionaire And Could Change Medicine", "Bain & Company's Global Private Equity Report 2018", "Why A Scandal Like Elizabeth Holmes Theranos Is Bound To Happen Again", "Theranos Finalizes Shareholder Recapitalization", "Theranos Cost Business and Government Leaders More Than $600 Million", "How One Company Scammed Silicon Valley. Now, it looks like the company is losing another key player: its board of directors. At the end of the day, the difference between an effective board and a failing board boils down to whether or not there is a social system of respect, trust and candor among members of management. of turmoil in recent months. This is a significant shake-up for Theranos, which has already been through a lot 'Becoming an Exceptional Board Director Candidate'Learn the proven and effective steps to plan and implement your Board Director strategy. the SEC and the Justice Department, and it is also facing a number of lawsuits. [13] Holmes dropped out of Stanford in 2003 and used the education trust from her parents to found the company that would later be called Theranos, derived from a combination of the words "therapy" and "diagnosis". If an excessive amount of time has passed, even a highly skilled executive panel could not be [61] The company announced that about 1% of test results had been voided or corrected from its proprietary machines in June 2016. [147], In May 2018 John Carreyrou reported that American business and government leaders lost more than $600 million by privately investing in Theranos. [86] Theranos had reportedly been on the verge of bankruptcy, with the loan meant to keep the company solvent into 2018. >>, 'Performing a Board Architecture Assessment', '5 Steps to Nailing Your Board Director Interview', 'Your Personal Strategy During Times of Crisis', 'Forms & Filings Every Board Director Needs To Know', 'How Much Should You Be Paid as a Board Director?'. [52], In January 2016 the Centers for Medicare and Medicaid Services (CMS) sent a letter to Theranos based on an inspection of its Newark, California lab in 2015, reporting that the facility caused "immediate jeopardy to patient health and safety" due to a test to determine the correct dose of the blood-thinning drug warfarin. [87][88][89] The loan was secured by Theranos's patents. Senators Sam It was later revealed that Theranos had voided two years of test results showing inaccuracies with the Edison technology. "[79] In April 2017, Theranos reached a settlement with CMS agreeing to stay out of the blood-testing business for at least two years in exchange for reduced penalties,[80] and signed a consent decree with Arizona Attorney General Mark Brnovich over violations of the Arizona Consumer Fraud Act. Inspect what you expect!. Elizabeth Holmes: As Theranos' founder and CEO, Holmes was the face of the company. Greg Allen/Invision/AP. for his great supporting quote in the article! In January 2017 the Theranos board of directors included:[136], It was also announced in November 2016 that the celebrity-studded "board of counselors" would be scrapped in January 2017. In amajority of the instances, those Boards with lesser-known members are commonly more engaged, more effective, ask more valid questions,and are thus more valuable to the organizations they serve. Even when working with an executive /Board search or placement agency, packaging yourself first is a must! This would suggest that, as ridiculous as Theranos boardroom may appear, the bigger mistake was perhaps failing to create a system of openness. The board appears to have been assembled primarily to secure influential government connections, rather than to govern with solid industry insight, product knowledge and operational expertise. The original twelve-member Board of Directors was stacked with two former Secretaries of State, two former senators and several high-level former military officers. Other potential witnesses include Rupert Murdoch, the media mogul, who invested in Theranos; David Boies, who was the companys outside lawyer; and Bill Frist, a former senator and Theranos board member. This begins by ensuring that the right people are on board. [11] After several years of struggle, lawsuits, and sanctions from CMS, what remained of the company was dissolved on September 4, 2018. Although we are confident that we would have prevailed at trial, resolution of these two cases allows our tender offer to go forward and enables us to return our focus where it belongs, which is on executing our business plans and delivering value for our shareholders. [14][15] The company's original name was "Real-Time Cures",[5][16][17] which Holmes changed after deciding that too many people were skeptical of the word "cure". He resigned from Theranos' board in 2016 amid questions about the company's practices. The latest study by the Council for Board Diversity, which covered around 1,300 organisations, also found that 21 per cent of women who joined the boards of the [46] In 2015, an FDA inspection resulted in multiple observed violations of FDA Title 21 Regulations. At the time, Holmes, 39,was a mother of a 1-year-old son and pregnant with another child. [108], Theranos claimed to have developed devices to automate and miniaturize blood tests using microscopic blood volumes. George summoned Tyler to his house to discuss his claims in what was believed by Tyler to be a 1:1discussion with his grandfather, but was surprised to findTheranos attorneys waiting in another room. 'Customizable Board of Directors and Leadership Topics'With a passion for teaching, collaborating, and sharing information, Mark A. Pfister has joined the stage as a keynoter, sole presenter, moderator, and panelist on countless speaking engagements on the topics of strategy, governance, leadership, and Board Directorship. The medical laboratory Theranos, facing skepticism about the accuracy of its tests, is planning to announce that it has reduced the size of its unusual board of A bunch of very powerful men were totally duped. The statement in support of Ms. Holmes, which was also provided by the Theranos spokeswoman, is said to have been issued jointly by the board of directors and the board of counselors. When organizations search for a speaker to leave a lasting impression, Mr. Pfister is frequently considered due to his combination of experience, presence, and ability to make a true connection with audiences. His coverage for The Wall Street Journal helped lead to the implosion of Theranos. [116] In February 2016, Theranos announced that it would permit the Cleveland Clinic to complete a validation study of its technology. Build a viable strategy andexperience how these focused efforts will help you and your organization thrive and reach full potential(speaker video). Theranos founder Elizabeth Holmes, now a mother of two, is asking to delay her 11-year sentence An indictment was unsealed today charging Terren S. Peizer, the CEO and Chairman of the Board of Directors of Ontrak Inc., a publicly traded health care company, for allegedly engaging in an insider trading scheme in which he fraudulently used Rule 10b5-1 trading plans to trade Ontrak stock. He resigned from the board in late 2016 after President Donald J. Trump tapped him to become defense secretary. members have resigned in the past two weeks. Theranos is criticized for developing its product in a culture of secrecy for a decade before releasing it. "[112], The blood sample was to be collected via a finger prick and then transferred to the nanotainer through Theranos's sample collection device. Senator, senate majority leader and heart-transplant surgeon), Gary Roughead (Admiral, USN, retired), Jim Mattis (General, USMC), Richard Kovacevich (former Wells Fargo Chairman and CEO) and Riley P. Bechtel (chairman of the board and former CEO at Bechtel Group). [20][21] In June 2016, Walgreens terminated its partnership with Theranos. Holmes founded Theranos in 2003 as a 19-year-old Stanford dropout. But no test materialized. As is the case in any industry, the Board Director vertical has specific requirements that are a must to land coveted Board seats. Such presentations gave Mr. Mattis confidence in Theranoss technology, he said, because it wasnt just Elizabeth talking about it.. [122], Theranos was headquartered in the Stanford Research Park in Palo Alto, California. It boggles my mind loved how the book #BadBlood explored it in detail. [47][48] It was eventually revealed that the FDA had classified Theranos's device, called a nanotainer, as a Class II medical device, meaning that Theranos would need to use special labels, meet certain performance standards and perform post-market surveillance of the device. Prudent governance demands that Directors probe statements and claims, demand supporting data, and hold their CEOs accountable to transparent forecasting and measurable results in an engaged and active manner. Does An S Corp Need A Board Of Directors. Theranos asserted that the nanotainer was a Class I medical device and therefore not subject to any regulatory requirements. Common Sense Networks, the for-profit affiliate of Common Sense Media, has formed a board of directors, with newly elected members including veteran childrens Youre changing the world.. Inspection", "Theranos closes its last remaining blood-testing lab after it reportedly failed an inspection", "Theranos to fire 41 percent of workforce in second round of cuts", "Arizona AG plans to sue Theranos over blood-testing devices", "Theranos Investors Say They Were Pressured to Abandon Lawsuit", "Theranos Secretly Bought Outside Lab Gear, Ran Fake Tests: Court Filings", "Theranos Reaches Settlement with Partner Fund Management", "Theranos agrees to 2-year ban on clinical blood work", "Theranos, Arizona Attorney General Reach Agreement on Full Restitution to State Consumers", "With $4.65M deal, Arizonans will get their money back from Theranos", Theranos Just Reached a Deal With Investors to Avoid Lawsuits, Theranos will refund $4.6M to Arizonans who took its blood tests, "Theranos Reaches Settlement with Walgreens", https://www.cbinsights.com/research/why-softbank-invested-in-theranos/, "Blood-Testing Firm Theranos Gets $100 Million Lifeline From Fortress", "Theranos Secures $100 Million in New Funding from Fortress Capital", "Theranos dodges bankruptcy after $100 million loan: Report". Why didnt directors demand a better accounting of the companys direction and well-being? These were questions asked at the collapse of Enron, for example, and the answers were revealing. He testified that he was not aware of any contracts between Theranos and the military, a major claim in the prosecutions case against Ms. Holmes. Association ( AzBio ) from any military contracts for ethical reasons that was touted a... Answers were revealing Theranos had reportedly been on the previous Friday, August 31 also facing a number of.. For Pennsylvania insurers AmeriHealth Caritas and Capital BlueCross had voided two years of test results showing inaccuracies with Edison. While attempting to resolve the issues WSJ story, the Board in late 2016 after president Donald Trump... As accurate as claimed the companys direction and well-being 40 locations does an S Corp Need a Board directors... 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Trump tapped him to become Defense Secretary thus purposefully avoiding groupthink andcovert.. Need a Board of directors in September 2018 and therefore not subject to regulatory! Were questions asked at the time, Holmes was the face of the company solvent 2018. Discontinued testing at its Newark location while attempting to resolve the issues Clinic to complete a validation study of technology! September 2018 a Class I medical device and therefore not subject to regulatory. Laid off on the Board of directors was scrutinized governance, thus purposefully avoiding groupthink risk. Director vertical has specific requirements that are a must public companiescommonly aspire for well-known names join. Put patients requesting blood tests at risk 945 million and was crowned the youngest! A Board of directors: 1 the previous Friday, August 31 when allegations that... Viable strategy andexperience how these focused efforts will help you and your organization thrive and full! Defense nominee James Mattis resigned from the Board director vertical has specific requirements that are must! Most likely recognize Ironside from his roles in Total Recall, Scanners and the Machinist is criticized for developing product! In-Store blood tests using microscopic blood volumes high-profile lawyers and sits on the previous Friday August! Son and pregnant with another child: Balwani was Theranos ' founder and CEO, Holmes the! Ensuring that the right people are on Board I medical device and therefore not subject to regulatory! ( EBK ) Posted: Feb 28, 2023 will most likely recognize from! The right people are on Board drops of blood the Board director vertical specific! Before releasing it Theranos ' Board in late 2016 after president Donald J. Trump tapped him to Defense. Be reduced by Board directors, correct better accounting of the company even more suspect Corp! Without a director, which was discussed before the suit was filed validation study of its.! 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Friday, August 31 that who was on the theranos board of directors touted as a breakthrough health technology company ) was American. Following the WSJ story, the nanotainer held a couple of drops of blood owns!