Theranos founder Elizabeth Holmes owns key allegations during testimony in criminal trial
SAN JOSE -- Theranos founder Elizabeth Holmes placed the logos of two major drug companies on blood-testing validation studies, which she then sent to Walgreens executives ahead of their lucrative retail partnership, she told jurors on Tuesday. Theranos also sent the reports to investors who bought millions of dollars of her start-up's stock.
The embattled former CEO also acknowledged that Theranos did not publicly disclose it was running blood tests on third-party machines rather than the devices the company had pitched to potential investors and VIPs during demonstrations, chalking it up to trade secrets.
Holmes made the bombshell admissions before a packed courtroom in California's Silicon Valley during her criminal fraud trial, where prosecutors have previously argued that she failed to tell investors about the third-party machines and doctored documents, which led them to believe the pharmaceutical companies had endorsed Theranos and its blood-testing technology.
Witnesses from both Pfizer and Schering-Plough Corporation testified earlier in the 12-week trial that Holmes did not have permission to use their trademarks on the studies.
https://abcnews.go.com/US/theranos-founder-elizabeth-holmes-owns-key-allegations-testimony/story?id=81368572&cid=social_twitter_abcn
