CA - Elizabeth Holmes (Theranos) Wire Fraud

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Tuesday, October 12th:
*Trial continues (Day 13) (@ 9am PT) - CA – for *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (2 men & 3 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 1 man & 3 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 1 man & 2 women.
Trial began on 9/8/21.
The Court trial days will be Tuesday, Wednesday & Friday, possibly other half days. The Court may modify the trial time & set either 8:30am-2pm or 9am-2pm & possibly 30-minute breaks in between. Judge Edward J. Davila presiding. Jury selection was on 8/31 & 9/1 completed; trial dates 10/12, 10/13, 10/15, 10/19, 10/20, 10/22, 10/26, 10/27, 10/29, 11/2, 11/3, 11/5, 11/9, 11/10, 11/12, 11/16, 11/17, 11/19 so far. Intervenor’s motions hearing on 9/30/21. Motions hearing re misc. relief on 10/18/21. Motions hearing on 10/18/21 has been cancelled.
Indictment & court info from 4/11/20 thru 8/26/21 & jury selection (Day 1-3) 8/31/21 to 9/2/21 & trial (Day 1-11) 9/8/21 to 10/5/21 & motions hearing on 9/30/21 reference post #615 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
10/6/21 Wednesday, Trial Day 12: Juror #4 is in the courtroom & says she is a Buddhist, which teaches forgiveness. She says in the beginning of trial she thought she could be fair to both sides, but now she's worried about Holmes' future. Juror #4 says "Now I’m thinking what happens if [Elizabeth Holmes] has to be in [prison] for a very, very long time & I feel guilty & it’s my fault." Judge Davila notes jurors can't consider Holmes' punishment in deliberations. But she says she still thinks about it "all the time." "It will stay with me. I keep thinking about that, every day of my life." She adds she'll stay on only "if I don’t have to vote. I'd be ok." Prosecutors want the juror excused, because her beliefs seem sincere. Defense counsel doesn't ask for her to go, but also doesn't object. The judge excuses her. Judge Davila is on the bench. He says Juror Alternate #2 who would have replaced Juror #4 also expressed "similar concerns" to the clerk about continuing service, they're going to call that juror in for some questions. Juror Alternate #2 asks to speak to the judge alone. He says no. She says English is not her first language & "it’s [Holmes'] future. I don’t know if I’m 100% ready to participate in something like this, being English not my first language & I could make a mistake." Judge Davila notes that the community respects the "rich rich collection of individuals" who come to the Bay Area. He recognizes English isn't her first language & the lawyers know they can't use complicated words so that the jury understands the evidence. Neither prosecutors nor defense counsel want the juror to go, so the judge is keeping her on the panel & putting her in Juror #4's seat.
Government witnesses: Adam Rosendorff on re-direct by Prosecutor John Bostic.
for more info see post #619 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
Adam Rosendorff on re-cross by defense counsel Lance Wade.
for more info see post #622 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
Ex-Safeway CEO Steven A. Burd on direct by Prosecutor Robert Leach.
for more info see posts #623 & 624 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
Trial continues on Tuesday, 10/12/21. Motion hearing for miscellaneous relief on 10/18/21 has been cancelled.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Motion hearing on 9/30/21 which was cancelled & trial set to begin on 1/11/22 with jury selection & trial starts on 1/18/22. No update as of 10/12/21.
 
Dorothy Atkins@doratki
4h

I'm back in San Jose for day 13 of Elizabeth Holmes' criminal fraud trial. Ex-Safeway CEO Steve Burd is expected to get back on the stand for some more q's on direct before cross. Judge Davila is on the bench.

Dorothy Atkins@doratki
4h

Replying to @doratki

Judge Davila says he wants trial to go until 3 p.m. today, 4 p.m. tomorrow and 1 p.m. Friday. The parties expect Burd's examination to wrap this afternoon, so it sounds like there'll be another witness this p.m.

Dorothy Atkins@doratki
4h

Judge Davila says he wants to question jurors about publicly filing their questionnaires in response to a media coalition's request. Defense counsel wants to be present for the questioning, but prosecutors say the defense has no constitutional right to be present for the q's.

Dorothy Atkins@doratki
4h

Judge Davila says he doesn't think questioning jurors re. their questionnaires implicates Holmes' constitutional rights, but suggested her defense attorneys could file a "script" or brief on it, if they want. Defense counsel sounds like they're passing on the offer.

Dorothy Atkins@doratki
4h

Judge Davila reiterates concerns he expressed last week that having attorneys present during juror questioning w/ the judge could be intimidating. He adds "it’s not that I don’t like counsel, I enjoy counsel," but it could intimidate them and the issue is "ancillary" to trial.

Dorothy Atkins@doratki
4h

Judge Davila turns to another issue: Whether Burd can say Safeway spent $380 million - $400 million (this number keeps growing) on renovating their stores for Theranos' devices. Holmes' counsel says the stat should be excluded in part, bc Safeway uses the renovated spaces today.

Dorothy Atkins@doratki
4h

Prosecutors say Safeway's renovation costs are in a few exhibits and should be shown to the jury, b/c it shows Safeway's commitment to Theranos and the impact of Holmes' alleged fraudulent statements to the retailer.

Dorothy Atkins@doratki
4h

The judge says the stat is more prejudicial than probative and Burd can discuss renos but not specific dollar amounts: The $55M Safeway invested in Theranos "would be dwarfed by the expenditure that they made in all their stores. I have concern that [jurors] would focus on that"

Dorothy Atkins@doratki
3h

The jury is in the courtroom and ex-Safeway CEO Steve Burd is back on the stand. Robert Leach is up for the government, and begins by asking Burd about 2012 statements Elizabeth Holmes made to him about the military.

Dorothy Atkins@doratki
3h

Prosecutor Robert Leach points to an Aug 2012 Safeway presentation that Burd and Holmes prepared for Safeway's board about Theranos' rollout. Burd says at the time, Theranos had already missed one pilot deadline in the 1st quarter that year.
 
Dorothy Atkins@doratki
3h

The Aug 2012 presentation says Safeway completed 98% of construction on 969 units, which Burd says was also used for vaccinations. It also says Elizabeth Holmes would meet with "editorial board of all local newspapers" and a "WSJ article will be released the day of our launch."

Dorothy Atkins@doratki
3h

The presentation also says one Theranos cartridge "will satisfy 95% of all CPT codes." Burd says that was "great news," b/c Safeway had to inventory them and he thought one cartridge could perform most blood tests. He says the only tech issue he knew of was heat management.

Dorothy Atkins@doratki
3h

Prosecutor points to a Sep 2012 email that Burd wrote Holmes: “I am genuinely concerned that Safeway’s [Theranos] lab reputation gets worse by the day. Keep in mind I have now required that our employees and their nearby dependents use this lab.”

Dorothy Atkins@doratki
3h

Burd explains that Theranos' blood tests had multiple problems at that point, including blood samples that were lost, temp control issues and "results that didn’t make any sense."

Dorothy Atkins@doratki
3h

Burd's Sept 2012 email adds that his staff has said Theranos' tests had improved over the previous 3 months but it is "no where close to Quest," which was Theranos' competitor.

Dorothy Atkins@doratki
3h

In another Sept 25, 2012 email, Burd wrote Holmes that he needed to know if the soft launch was going to be delayed, so Safeway could slow hiring staff, and he heard that Theranos was doing their tests in Utah, and not on site in Calif.

Dorothy Atkins@doratki
3h

In a Nov 2012 email, Burd wrote Holmes: "If we don’t pick a launch date soon, we can forget about launching even six stores in 2012..I feel like a jogger running in place waiting for the stop light to turn green." Safeway was ready and waiting on Theranos, he says.

Dorothy Atkins@doratki
3h

Burd wrote another email to Holmes in Nov 2012 titled "Becoming discouraged." In the email, he says as a optimistic person, he can only recall having been discouraged "once in the last 62 years. That said I am getting close to my second event."

Dorothy Atkins@doratki
3h

Burd explains that Safeway had 185k employees and he thought Safeway could have helped Theranos remove some obstacles, but deadlines weren't being met and Theranos wasn't always taking Safeway up on its offers to help.

Dorothy Atkins@doratki
3h

In a Jan 2013 email, Burd wrote Holmes that "I cannot begin to tell you how disappointed I am that you redesigned [Theranos'] wordmark without ever telling us you were doing it... I don’t mind passing the batton… what I mind is having it ripped from my hands."

Dorothy Atkins@doratki
3h

Burd's email went on: "I do not like wasting time. This does not feel like a partnership." He explains that the decision "wasn’t as collaborative as I thought it should be," given that Safeway did marketing research on brand logos and he would have at least liked a courtesy call.
 
Dorothy Atkins@doratki
3h

Burd's email to Holmes: "I believe in you. I believe in your company. And I share your vision. I want so much to help you change the world. We are so good together when we collaborate. But I have never been more frustrated. I want to help, but you are making it difficult."

Dorothy Atkins@doratki
3h

Burd explains that it had been almost two years at that point and Theranos still hadn't launched blood-testing devices in the stores. Burd says when he retired from Safeway in May 2013, Theranos had never launched in its stores.

Dorothy Atkins@doratki
3h

Prosecutors wrapped Burd's direct examination. Kevin Downey is up for Elizabeth Holmes. He begins cross by getting Burd to acknowledge Safeway made billions annually and had high-profile experienced board members, including ex-Wells Fargo chief, ex-AT&T CEO and ex-Macy's exec.

Dorothy Atkins@doratki
3h

Holmes' counsel points out that Safeway's CFO had a relationship with a Theranos board member. He also gets Burd to acknowledge that he knew Holmes was a "young entrepreneur" in her mid-20s.

Dorothy Atkins@doratki
3h

Holmes' atty points to a March 2010 letter in which he said Safeway would arrange a meeting for Theranos with UCSF about Theranos' tests. Defense counsel gets Burd to concede he was interested in getting UCSF's opinion on Theranos' technology at the time.

Dorothy Atkins@doratki
2h

Defense counsel gets Burd to acknowledge that the May 2010 Safeway board presentation about Theranos included $25m equity for 2.8% of the co and a board seat, which never happened. The presentation also includes a slide on Theranos' "risks," including reg risks and CLIA.

Dorothy Atkins@doratki
2h

Defense counsel gets Burd to concede that Safeway hired outside lawyers to conduct "hundreds of hours" of due diligence into its deal w/ Theranos before the companies entered into the agreement.

Dorothy Atkins@doratki
2h

Burd says any scientific tech or assay development info from Theranos would have been evaluated by Safeway's head of health and its head of pharmacy. He adds that he spoke to lab directors at John Hopkins and UCSF about Theranos' tech.

Dorothy Atkins@doratki
2h

Burd says that he introduced Elizabeth Holmes to Dr. Jonathan Simons, a lab head of John Hopkins. But he notes that "Obviously Jon was in no position at a dinner meeting to evaluate this technology. He thought if Theranos could do this it would be a bit of a game changer."

Dorothy Atkins@doratki
2h

Burd says in 2010, a lab director reviewed Theranos' device but told Burd that they didn't have "the box" long enough to determine the tests' validity, because Theranos took it back.
 
Dorothy Atkins@doratki
2h

Holmes' counsel points to a 2010 email in which Safeway exec Brad Wolfsen wrote Holmes re assay tests. Holmes replied the list "is not an accurate reflection" of tests we will make available in stores - the list is the library provided to pharma clients clinical trials.

Dorothy Atkins@doratki
2h

Burd wasn't aware of the communication, but says it's "apples and oranges" and Safeway was consistently told that Theranos' devices could do an assortment of tests.

Dorothy Atkins@doratki
2h

Burd says Safeway's outside counsel was Latham & Watkins, and the firm has counseled him before testifying today. We're going to take a 30 minute trial break.

Dorothy Atkins@doratki
2h

Before breaking, Judge Davila is telling the jury that a media coalition (which includes me and in the judge's words "Law three-six-zero") has asked to unseal their jury questionnaires, even though he told them they would be confidential and sealed.

Dorothy Atkins@doratki
2h

Judge Davila says he will give jurors their questionnaires back to them so they can review their answers and tmr he'll have individual convos w/ each juror w/ attys in the room about unsealing them: "My goal is not to make this intimidating at all, because it shouldn't be."

Dorothy Atkins@doratki
2h

We’re on a break, and I think from here on out I’m going to introduce myself as “a reporter for Law three, six, zero.”

Dorothy Atkins@doratki
1h

It's almost noon and I'm surprised Judge Davila has not yet mentioned the Giants' win last night against the Dodgers.
 
Dorothy Atkins@doratki
1h

We're back! Elizabeth Holmes' counsel Kevin Downey pulled up Theranos' agreement with Safeway to launch its blood-testing devices in Safeway stores. We're looking at specific terms of the contract now.

Dorothy Atkins@doratki
1h

Holmes' counsel points to provisions in Safeway's contract that gives Safeway the exclusive right to deploy Theranos devices in the "food retail channel," but that Walgreens and Safeway would run a pilot program simultaneously.

Dorothy Atkins@doratki
1h

Holmes' counsel points out that multiple provisions of Safeway's agreement with Theranos gave Safeway the right to end their agreement without cause w/ 30 days notice, including in the event that the FDA took action against Theranos.

Dorothy Atkins@doratki
1h

Holmes' attorney notes that under the agreement, Safeway agreed to pay $10 million to "pre-purchase" cartridges. Burd also concedes there were no specific deadlines in Theranos' contract: "We knew we were dealing with technology and it’s sometimes difficult to nail that down."

Dorothy Atkins@doratki
1h

Burd says Safeway and Theranos has a plan he called "shock and awe" in which they would roll out Theranos' blood-testing devices in more than 900 stores in 22 states, but it never happened.

Dorothy Atkins@doratki
1h

Holmes atty pulls up Steve Burd's Sept 2012 email to Holmes complaining about Theranos' performance. Holmes replied to Burd: "As you know, we were not eager to start the mandate for all employees for this reason. As you also know, we do not have all tests run in our lab onsite.”

Dorothy Atkins@doratki
1h

Holmes' email to Burd went on: "as you know" the Safeway lab process "does not translate to the Theranos testing process," and it does not make sense for Theranos to invest in "a full service dinosaur lab" just to accommodate Safeway workers' tests.

Dorothy Atkins@doratki
47m

Holmes' counsel turns to Bloomberg charts showing that Safeway's stock dropped from Jan 2012 to July 2012 ~$19 to ~$14 per share. (Safeway went private in a deal that closed in early 2015.)

Dorothy Atkins@doratki
45m

Holmes' counsel asks Burd if he remembers texting Elizabeth Holmes in July 2012 that if they launched Theranos devices in stores it would improve Safeway's stock price. He says he doesn't recall, but he agrees Safeway's stock would've gone up if the launch happened.

Dorothy Atkins@doratki
35m

Defense wrapped Burd's cross, and Leach is back up for the government on redirect and asks Burd's opinion of Theranos in 2010. Burd says he thought Theranos had been around for 7-10 years and that it was cash-flow neutral.

Dorothy Atkins@doratki
35m

Burd says there's "no magic line" between a startup and a small company, but when a company is generating enough revenues annually, they're no longer a startup.

Dorothy Atkins@doratki
11m

Holmes' atty points to a Jan 2012 email Burd wrote to Holmes: "I’m very concerned about allowing network partners or anyone else to launch with a mere fingerstick." Burd says he doesn't recall what prompted the email. W/ that, they wrapped w/ Burd & we're taking a 30 min break!
 
Dorothy Atkins@doratki
10m

The jury is back in the courtroom, and Judge Davila is on the bench. There was a delay, and the judge says "in the spirit of disclosure we were getting my office ready, and we were moving boxes. I'll leave it at that."

Dorothy Atkins@doratki
9m

Prosecutors call to the stand Jo-Ann Stores CEO Wade Miquelon, who served as the CFO of Walgreens from June 2006 to Aug 2014.

Dorothy Atkins@doratki
4m

Miquelon says he first heard of Theranos in March 2010 when Walgreens was looking into labs to bring into Walgreens stores. He thought Theranos was the "farthest along and most relevant for what the company wanted to achieve."

Dorothy Atkins@doratki
5m

Prosecutor Jeff Schenk is pointing to a March 2010 presentation that Holmes and Balwani showed Miquelon and other Walgreens execs. It says Theranos was launching to consumers in 2010.

Dorothy Atkins@doratki
4m

Theranos' 2010 presentation also says its current/past clients include 10 of the top 15 major pharma companies, mid-sized bio pharmas, prominent research institutions and U.S. and foreign government health and military orgs. Miquelon said they weren't told details b/c of NDAs.

Dorothy Atkins@doratki
1m

Miquelon says the presentation showed that 90-95% blood tests could be done on Theranos' Edison devices, which would have software that could upload results to the Cloud so that the data could be available in real time.

Dorothy Atkins@doratki
1m

Miquelon said when he was at Walgreens in 2010, he didn't know the specific number of blood-tests Theranos' devices could do, but the plan was to roll out general chemistry, influenza and fertility tests by Q4.

Dorothy Atkins@doratki
8m

Elizabeth Holmes sent Walgreens three reports that she wrote in her email were confidential independent reports from GlaxoSmithKline, Pfizer and Schering-Plough validating certain Theranos tests. The prosecutor notes one report misspelled institute as "Instituture"

Dorothy Atkins@doratki
3m

In an April 2010, Miquelon wrote the Walgreens CEO about Theranos, calling the startup "disruptive technology that cuts the entire infrastructure of clinical lab," reducing expenses and costs of traditional lab tests by 60-70%.

Dorothy Atkins@doratki
14m

Miquelon's email went on stating that a "$52 billion market" could be done on Theranos' tests and that the company had been around for 7 years with a "strong experienced management team (very well funded company)."

Dorothy Atkins@doratki
12m

We're breaking for the day. Miquelon will be back on the stand first thing tomorrow morning. The judge notes that he's planning on speaking to some of the jurors "one-by-one" about their jury questionnaires before they leave for the day.
 
First I want to THANK @UndiscoveredTruth for the posts on what is happening in court! I couldn't keep up without them!

Wednesday, October 13th:
*Trial continues (Day 14) (@ 9am PT) - CA – for *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (2 men & 3 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 1 man & 3 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 1 man & 2 women.
Trial began on 9/8/21.
The Court trial days will be Tuesday, Wednesday & Friday, possibly other half days. The Court may modify the trial time & set either 8:30am-2pm or 9am-2pm & possibly 30-minute breaks in between. Judge Edward J. Davila presiding. Jury selection was on 8/31 & 9/1 completed; trial dates 10/13, 10/15, 10/19, 10/20, 10/22, 10/26, 10/27, 10/29, 11/2, 11/3, 11/5, 11/9, 11/10, 11/12, 11/16, 11/17, 11/19 so far. Intervenor’s motions hearing on 9/30/21. Motions hearing re misc. relief on 10/18/21. Motions hearing on 10/18/21 has been cancelled.
Indictment & court info from 4/11/20 thru 8/26/21 & jury selection (Day 1-3) 8/31/21 to 9/2/21 & trial (Day 1-12) 9/8/21 to 10/6/21 & motions hearing on 9/30/21 reference post #641 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
10/12/21 Tuesday, Trial Day 13: Judge Davila says he wants trial to go until 3pm today (10/12), 4pm tomorrow & 1 pm Friday. The parties expect Burd's examination to wrap this afternoon, so it sounds like there will be another witness this pm. Judge Davila says he wants to question jurors about publicly filing their questionnaires in response to a media coalition's request. Defense counsel wants to be present for the questioning, but prosecutors say the defense has no constitutional right to be present for the questions. Judge Davila reiterates concerns he expressed last week that having attorneys present during juror questioning with the judge could be intimidating. He adds "it’s not that I don’t like counsel, I enjoy counsel," but it could intimidate them & the issue is "ancillary" to trial.
Ex-Safeway CEO Steve Burd is back on the stand. Robert Leach is up for the government on direct exam & Kevin Downey is up for defense's cross & re-direct by Leach.
for more info see posts #642 to 646 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
Before break Judge Davila says he will give jurors their questionnaires back to them so they can review their answers & tomorrow he'll have individual conversations with each juror with attorneys in the room about unsealing them: "My goal is not to make this intimidating at all, because it shouldn't be."
Jo-Ann Stores CEO Wade Miquelon, who served as the CFO of Walgreens from June 2006 to Aug 2014. Direct by Prosecutor Jeff Schenk.
for more info see post #647 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
The judge notes that he's planning on speaking to some of the jurors "one-by-one" about their jury questionnaires before they leave for the day.
Trial continues on Wednesday, 10/13/21. Motion hearing for miscellaneous relief on 10/18/21 has been cancelled.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Motion hearing on 9/30/21 which was cancelled & trial set to begin on 1/11/22 with jury selection & trial starts on 1/18/22. No update as of 10/13/21.
 
Elizabeth Holmes Trial: Live Updates

7 min ago
Former Walgreens CFO Says Theranos Asked for Advance on $100 Million Payment
By Heather Somerville
Walgreens Boots Alliance Inc. agreed to pay Theranos $140 million as part of a deal to put the startup’s blood-testing devices in dozens of the chain’s drugstores, according to court testimony Wednesday.

Wade Miquelon, the former chief financial officer of Walgreens who helped oversee the company’s relationship with Theranos, testified that Walgreens agreed to pay Theranos a $100 million “innovation fee” to fund the partnership between the two companies and help the blood-testing startup scale.

In addition, Walgreens agreed to pay $40 million for convertible notes to Theranos, effectively a loan to help fund the company that gave the option to convert to an equity ownership stake.

In August 2013, on the eve of the public launch of the Walgreens testing program, Theranos Chief Executive Elizabeth Holmes requested that Walgreens accelerate the $100 million payment, Mr. Miquelon said. She told Walgreens executives that the startup needed the money sooner, he testified.

Ms. Holmes made a number of other requests from Walgreens, including improving staff training. Mr. Miquelon said he assumed, based on those requests, that Walgreens was coming up short in the partnership, not doing its part fast enough or well enough.
 
Dorothy Atkins@doratki
4h

Good morning from San Jose! The Giants lost last night to the Dodgers, but the series ain't over yet. In other news, I'm here for day 14 of Elizabeth Holmes' criminal fraud trial. Ex-Walgreens CFO Wade Miquelon will be back on the stand this a.m. Judge Davila is on the bench.

Dorothy Atkins@doratki
4h

Replying to @doratki

Holmes' counsel wants the court to limit certain testimony by ex-Walgreens exec Nimesh Jhaveri related to certain WSJ articles and Walgreens' decision to close certain stores. Prosecutor Jeff Schenk says they won't go deep into either issue during his direct.

Dorothy Atkins@doratki
4h

Judge Davila says the juror questioning re unsealing their questionnaires yesterday took multiple hours and they only got through 9 of 15 jurors (which includes 3 alternates). Holmes' atty wants to finish convos w/ the remaining jurors before getting back to witness testimony.

Dorothy Atkins@doratki
4h

Judge Davila tells Holmes' counsel Kevin Downey: "What you're asking me to do is put this trial on hold resolve that whole motion." (The motion is a request by a media coalition to unseal juror questionnaires even though the judge told jurors they would be confidential.)

Dorothy Atkins@doratki
4h

Downey says some of the jurors' responses during their questioning yesterday may have "raised issues" regarding Holmes' 5th and 6th Amendment rights to a fair trial, and they should finish w/ the rest of the panel so that they can address any issues before continuing trial.

Dorothy Atkins@doratki
4h

The judge agrees to wrap up his questioning of the remaining jurors this morning in a sealed session before trial continues. "I hope we can get this done in perhaps an hour," the judge adds. "I think we can and then we can press on. Maybe we’ll go until five." And now we wait...

Dorothy Atkins@doratki
4h

The woman who showed up during the first days of trial who yelled at jurors about the MeToo Movement has showed up to the overflow court wearing a blue shirt with "Me Too" written on the front.

Dorothy Atkins@doratki
4h

She said she didn't go to the main courtroom today, because she didn't want to get in trouble with the judge, who warned everybody last time she showed up that people who interfere with jurors or witnesses could face an investigation.

Dorothy Atkins@doratki
4h

Here's my coverage of that day in court for those who missed it:

gEOuBI1L

Holmes Fan's #MeToo Callout To Jurors Draws Judge's Ire - Law360
 
Dorothy Atkins@doratki
2h

After two hours, the jury is back in the courtroom and Judge Davila is on the bench. He asks if the jury could come into court tomorrow for an extra day of trial this week. He tells the jury to "make inquiries" w/ their employers during the break and let him know.

Dorothy Atkins@doratki
2h

Former Walgreens CFO Wade Miquelon is back on the stand. Prosecutor Jeffrey Schenk is continuing his direct examination.

Dorothy Atkins@doratki
2h

Schenk begins by pointing to Theranos' July 2010 master agreement with Walgreens, which Miquelon and Holmes both signed. He says Walgreens had a team working on the agreement and conducting due diligence of Theranos starting in April 2010.

Dorothy Atkins@doratki
1h

Miquelon says he didn't know that Theranos was using third-party devices to do blood-tests when he signed the agreement in 2010.

Dorothy Atkins@doratki
1h

Miquelon says he and other Walgreens executives had their blood drawn with Theranos' fingerstick test and the results "went through a physician" for legal reasons before he got them back. He adds that Holmes never told him tests would be drawn venously.

Dorothy Atkins@doratki
1h

Prosecutor points to a Theranos Jan 2012 presentation with a slide titled “Theranos’ finger-stick based laboratory” that includes the prongs: “No regulatory risk” and "Massive new revenue base."

Dorothy Atkins@doratki
1h

Another slide shows a three-phase Walgreens Theranos rollout, with the first launch in 2012, the second in 2013 with 1,600 Theranos minilabs in Walgreens stores and the third launch in 2014 with Theranos minilabs in all Walgreens stores.

Dorothy Atkins@doratki
1h

Miquelon says Walgreens paid Theranos $100 million in an "innovation fee," and gave the company a $45 million convertible note, making it an investor in the startup.

Dorothy Atkins@doratki
1h

The prosecutor pulls up a document, and Miquelon corrects his testimony -- Walgreens gave Theranos a $40 million convertible not, not $45 million.

Dorothy Atkins@doratki
1h

In Aug 2013, Miquelon forwarded an email that Holmes sent him saying Theranos needed the $100 million and Walgreens to address multiple issues like training, space and operational infrastructure.

Dorothy Atkins@doratki
1h

Miquelon forwarded Holmes email Walgreens head of gov't relations Debbie Garza and wrote that "I’m not worried about them or labs… I’m worried about us :(" Miquelon explained that "I think it was a point of frustration" that maybe Walgreens wasn't doing enough to help Theranos.
 
Dorothy Atkins@doratki
1h

Prosecutor is reading through a WSJ article on Theranos describing the technology as using "new diagnostic methods to shave time" from the blood-testing process. Sunny Balwani forwarded Miquelon the article.

Dorothy Atkins@doratki
1h

Miquelon says Balwani told him that Theranos was doing work with the military providing the DOD with tests for Helivac "I believe in Afghanistan," but Balwani claimed he couldn't talk about it b/c of NDA. Miquelon says he was impressed. With that, prosecutors wrapped direct.

Dorothy Atkins@doratki
1h

Holmes' attorney Kevin Downey is up for the defense. He asks Miquelon how he first heard about Theranos. Miquelon says he first heard about it from Walgreens health innovation head Dr. Jay Rosan.

Dorothy Atkins@doratki
1h

Miquelon says Rosan said Theranos was a promising company, and Rosan interacted more frequently with Holmes and Balwani than he did. "I never pretended to be a healthcare professional," he says adding that his job is more focused on commercializing products.

Dorothy Atkins@doratki
58m

Miquelon says Rosen told him Theranos was the "farthest along" in developing the blood-testing technology and he knew that Theranos was in dicussions w/ Safeway, but he didn't know "the extent to it."

Dorothy Atkins@doratki
46m

We're going to take a 25 min trial break, but the judge tells the jury that he'll likely set more hearings over the next 5 weeks on whether the jury questionnaires can be unsealed and then he'll decide. "Nothing's going to change until I've had all those hearings, he says.
 
Dorothy Atkins@doratki
7m

We're back! Holmes' counsel points out that in 2010 Walgreens knew that testing would be offsite in Palo Alto during the first rollout phase and when Miquelon left Walgreens in Aug 2014, the devices were in 40 stores in Calif and Arizona.

Dorothy Atkins@doratki
11m

Miquelon says Walgreens had meetings "at every level" in considering the Theranos partnership and hired a lab to consider the tech. The lab concluded that out of 150-180 cos in the space, "they thought Theranos was probably farthest ahead," but had concerns about its IT system.

Dorothy Atkins@doratki
3m

Walgreens hired a team at John Hopkins to vet Theranos' tech in 2010 and Holmes' counsel points to its "key findings" that "the technology is novel and sound. It can accurately run a wide range of routine and special assays" and "No major weaknesses were identified."

Dorothy Atkins@doratki
26s

Miquelon says Walgreens also hired regulatory counsel to evaluate its deal with Theranos, and it presented complex regulatory issues, b/c "The issue of where is the lab, and I don’t think that had been contemplated before by the regulators."

Dorothy Atkins@doratki
13m

Holmes' counsel gets Miquelon to acknowledge that he was aware Theranos' Edison devices had multiple generations and he knew the company was working on future models. "Technology is always an evolution," he said.

Dorothy Atkins@doratki
3m

Holmes' atty points to terms in Theranos' agreement w/ Walgreens that gave both parties the right to end their partnership at any time. Miquelon also agrees Walgreens was doing due diligence throughout the pilot after the deal was signed.

Dorothy Atkins@doratki
17m

Holmes emailed Miquelon in Aug 2013 a month before Walgreens and Theranos publicly announced their partnership. In the email, Holmes describes a final national rollout strategy "as fast as possible" but says Walgreens has to do a "very significant amount of work" too.

Dorothy Atkins@doratki
2m

Holmes' counsel pulls up a Jan 2014 email from Walgreen's M&A head Mark Vainisi that says Walgreens would accelerate its payment to Theranos and Theranos would give it "enhanced exclusivity" and parties agree to "work in good faith" to develop the rollout plan.
 
Dorothy Atkins@doratki
14m

Holmes atty points to the transcript from a Dec 2013 Walgreens' earnings call in which Miquelon said he thought Theranos had "v meaningful potential" & "we're very very positive on Theranos. It's really one of the disruptive plays..and patient feedback we're getting is v good."

Dorothy Atkins@doratki
13m

Uh-oh. The judge says we're taking a witness out of order. (!)

Dorothy Atkins@doratki
10m

The last time a witness was interrupted to call another witness* out of order was Gen. Jim Mattis. Prosecutors tell the judge they don't think it's necessary to take the witness out of order, but they'll check w/ the witness. Trial is taking a 15 minute break.

Dorothy Atkins@doratki
4m

The jury is back in the courtroom. Judge Davila is on the bench and asks jurors if they can come back tomorrow 9-3. No one objects, so we'll all be back here tmr. Prosecutors say they don't need to take a witness out of order, so Miquelon is back on the stand. (Whatta tease!)
 
Last edited:
Niner said:
First I want to THANK @UndiscoveredTruth for the posts on what is happening in court! I couldn't keep up without them!

Wednesday, October 13th:
*Trial continues (Day 14) (@ 9am PT) - CA – for *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (2 men & 3 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 1 man & 3 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 1 man & 2 women.
Trial began on 9/8/21.
The Court trial days will be Tuesday, Wednesday & Friday, possibly other half days. The Court may modify the trial time & set either 8:30am-2pm or 9am-2pm & possibly 30-minute breaks in between. Judge Edward J. Davila presiding. Jury selection was on 8/31 & 9/1 completed; trial dates 10/13, 10/15, 10/19, 10/20, 10/22, 10/26, 10/27, 10/29, 11/2, 11/3, 11/5, 11/9, 11/10, 11/12, 11/16, 11/17, 11/19 so far. Intervenor’s motions hearing on 9/30/21. Motions hearing re misc. relief on 10/18/21. Motions hearing on 10/18/21 has been cancelled.
Indictment & court info from 4/11/20 thru 8/26/21 & jury selection (Day 1-3) 8/31/21 to 9/2/21 & trial (Day 1-12) 9/8/21 to 10/6/21 & motions hearing on 9/30/21 reference post #641 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
10/12/21 Tuesday, Trial Day 13: Judge Davila says he wants trial to go until 3pm today (10/12), 4pm tomorrow & 1 pm Friday. The parties expect Burd's examination to wrap this afternoon, so it sounds like there will be another witness this pm. Judge Davila says he wants to question jurors about publicly filing their questionnaires in response to a media coalition's request. Defense counsel wants to be present for the questioning, but prosecutors say the defense has no constitutional right to be present for the questions. Judge Davila reiterates concerns he expressed last week that having attorneys present during juror questioning with the judge could be intimidating. He adds "it’s not that I don’t like counsel, I enjoy counsel," but it could intimidate them & the issue is "ancillary" to trial.
Ex-Safeway CEO Steve Burd is back on the stand. Robert Leach is up for the government on direct exam & Kevin Downey is up for defense's cross & re-direct by Leach.
for more info see posts #642 to 646 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
Before break Judge Davila says he will give jurors their questionnaires back to them so they can review their answers & tomorrow he'll have individual conversations with each juror with attorneys in the room about unsealing them: "My goal is not to make this intimidating at all, because it shouldn't be."
Jo-Ann Stores CEO Wade Miquelon, who served as the CFO of Walgreens from June 2006 to Aug 2014. Direct by Prosecutor Jeff Schenk.
for more info see post #647 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
The judge notes that he's planning on speaking to some of the jurors "one-by-one" about their jury questionnaires before they leave for the day.
Trial continues on Wednesday, 10/13/21. Motion hearing for miscellaneous relief on 10/18/21 has been cancelled.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Motion hearing on 9/30/21 which was cancelled & trial set to begin on 1/11/22 with jury selection & trial starts on 1/18/22. No update as of 10/13/21.
Click to expand...
You're always welcome, @Niner A huge thank you to you also for all the info you post not only in this thread but numerous other threads as well. Much appreciated!!
 
Thursday, October 14th:
*Trial continues (Day 15) (@ 9am PT) - CA – for *Elizabeth A. Holmes (34/now 37) (CEO of Theranos) charged (March, 2018) & indicted (6/14/18) & arraigned (6/15/18) with 9 counts of wire fraud & 2 counts of conspiracy to commit wire fraud and charged & indicted (4/11/20) with fraud relating to a patient's blood test. Another count of wire fraud was added in 2020, bringing the total number of felony charges to 12. Plead not guilty. No bond. Faces a maximum sentence of 20 years in prison & up to $2.75 million in fines, plus restitution, & $250K for each individual count of wire fraud & conspiracy.
Defrauding investors out of $700 million in funding for their blood-testing startup Theranos.
Trial began on 8/31/21 with jury selection. 12 jurors of 7 men & 5 women (6 Caucasians, 4 Hispanics & 2 Asians) with five alternates (2 men & 3 women). Juror #7 excused & replaced with alternate #1. Now jurors are 8 men & 4 women. Alternates 1 man & 3 women. 10/6/21: Juror #4 excused & replace with alternate #2. Now jurors are 8 men & 4 women. Alternates 1 man & 2 women.
Trial began on 9/8/21.
The Court trial days will be Tuesday, Wednesday & Friday, possibly other half days. The Court may modify the trial time & set either 8:30am-2pm or 9am-2pm & possibly 30-minute breaks in between. Judge Edward J. Davila presiding. Jury selection was on 8/31 & 9/1 completed; trial dates 10/14, 10/15, 10/19, 10/20, 10/22, 10/26, 10/27, 10/29, 11/2, 11/3, 11/5, 11/9, 11/10, 11/12, 11/16, 11/17, 11/19, 11/23, 11/24 so far. Intervenor’s motions hearing on 9/30/21. Motions hearing re misc. relief on 10/18/21. Motions hearing on 10/18/21 was cancelled.
Indictment & court info from 4/11/20 thru 8/26/21 & jury selection (Day 1-3) 8/31/21 to 9/2/21 & trial (Day 1-13) 9/8/21 to 10/8/21 & motions hearing on 9/30/21 reference post #641 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
10/13/21 Wednesday, Trial Day 14: Judge Davila says the juror questioning re unsealing their questionnaires yesterday took multiple hours & they only got through 9 of 15 jurors (which includes 3 alternates). Holmes' attorney wants to finish conversation with the remaining jurors before getting back to witness testimony.
for more info on exchange between Judge & defense attorney Kevin Downey see post #651 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
After two hours, the jury is back in the courtroom & Judge Davila is on the bench. He asks if the jury could come into court tomorrow for an extra day of trial this week. He tells the jury to "make inquiries" with their employers during the break & let him know.
Ex-Walgreens CFO Wade Miquelon is back on the stand. Prosecutor Jeffrey Schenk is continuing his direct examination.
for info see posts #652 & 653 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
At break the judge tells the jury that he'll likely set more hearings over the next 5 weeks on whether the jury questionnaires can be unsealed & then he'll decide. "Nothing's going to change until I've had all those hearings, he says.
Ex-Walgreens CFO Wade Miquelon continued on cross.
for more info see posts #654 & 655 here:
CA - Elizabeth Holmes (Theranos) Wire Fraud
After break the jury is back in the courtroom. Judge Davila is on the bench & asks jurors if they can come back tomorrow 9-3. No one objects. Trial continues on 10/14/21.
*Ramesh “Sunny” Balwani (53/now 56) (CFO & President of Theranos) – Motion hearing on 9/30/21 which was cancelled & trial set to begin on 1/11/22 with jury selection & trial starts on 1/18/22. No update as of 10/14/21.
 
I thought court had finished for the day but I've been notified there are more tweets from Dorothy Atkins, sorry for the huge delay folks!!

Dorothy Atkins@doratki
11h

Over objections, Holmes' counsel points to a March 2014 email that Miquelon sent to Walgreens investor Ashish Kohli that says the Theranos “project is going well. When we have a new milestone we will share it."

Dorothy Atkins@doratki
11h

Holmes' counsel points to an Oct 2015 email that Miquelon sent to Elizabeth Holmes after the WSJ had published articles critical of Theranos. He wrote Holmes "You are in my thoughts. Hang in there. The haters are everywhere."

Dorothy Atkins@doratki
11h

Miquelon wrote Holmes another email in Dec 2015 "Elizabeth awesome talking to you today. I will come back to you with more detailed thoughts on how we could do something really game changing as talked." He explains "I very much believed in Elizabeth and what she was up to."

Dorothy Atkins@doratki
11h

In a March 2016, Miquelon wrote Holmes and others that “I remain confident that the GCC would be a fabulous environment for Theranos from a clinical, capital, structural, and many other perspectives and am excited that you are interested in exploring in greater detail."

Dorothy Atkins@doratki
11h

In Aug 2016, Miquelon wrote Holmes "Nice job with Dr. Gupta I hope you are well don’t stop working to help the world :) Wade"

She replied "You know how much that means to me. Hope all is wonderful with you."

He says: I def cared about her v much and wanted her to be successful

Dorothy Atkins@doratki
11h

Defense wrapped cross, prosecutor Jeff Schenk is back up for the gov't. He points out that Johns Hopkins study was done solely for Walgreens and said it "in no way signify an endorsement by Johns Hopkins Medicine to any product or service" and was never given to Theranos.

Dorothy Atkins@doratki
11h

Prosecutor asks Miquelon if he ever remembers Sunny Balwani correcting Elizabeth Holmes when they met. He says he doesn't recall.

Dorothy Atkins@doratki
11h

Miquelon's examination wraps with him saying Holmes never told him of the technical issues with the Theranos devices and only about problems with drawing blood from fingers. "I think I wanted to believe that it was true," he says. Defense has no cross.

Dorothy Atkins@doratki
10h

Prosecutors call NY Federal Reserve Bank deputy chief investigator Robert Amenta to the stand. He's worked there since 1993, he says.

Dorothy Atkins@doratki
10h

Amenta is giving a run down of how the Federal Reserve Bank tracks interstate wire transfers. (This is pretty technical stuff, but probably needs to come in through this witness for the wire fraud charges.)

Dorothy Atkins@doratki
10h

The screens in the jury box stopped working so the judge decided to just break for the day. Both sides say they only have ~20 mins w/ Amenta and the next witness is Walgreens exec Nimesh Jhaveri, who prob won't take all day, so there'll be a 3rd witness tmr. Ciao

Dorothy Atkins@doratki
6h

Today's long day of testimony in Elizabeth Holmes' criminal trial unveiled emails b/w former Walgreens CFO Wade Miquelon and Holmes, in which he tried to comfort Holmes as Theranos faced public scrutiny. "Haters are everywhere," he wrote.

Ex-Walgreens Exec Told Holmes 'Haters Are Everywhere' - Law360
 
Dorothy Atkins@doratki
8h

Today will be hella busy as in Elizabeth Holmes' criminal fraud trial. In addition to a full day of witness testimony, Magistrate Judge Nathanael Cousins will be holding hearings on separate motions by @JohnCarreyrou & @rparloff at 1:30 so I'll have a foot in 2 courts. Party on.

FBqizNlUUA8Mzzt


Dorothy Atkins@doratki
6h

Replying to @doratki

I'm back in San Jose a few mins late (thnx Amtrak). Judge Ed Davila is on the bench and he's discussing potentially breaking trial for the hearing before Judge Cousins. The attorneys say it's not necessary b/c some attys can leave and argue the motions while trial continues.

Dorothy Atkins@doratki
6h

The parties turned to arguing over Holmes' request to limit certain testimony from the third witness called today, ex-Theranos lab director Sunil Dhawan, and a letter w/ certain CMS findings on Theranos. Prosecutors say it's relevant and fair game.

Dorothy Atkins@doratki
6h

Holmes' counsel says the letter, which addresses certain quality control tests, was a "back-and-forth" b/w Theranos and CMS following the agency's report, but it doesn't constitute the actual findings of the CMS agency and it's pretty "far afield" and downstream from CMS report.

Dorothy Atkins@doratki
6h

Judge Davila says he can hold off today on deciding whether he'll admit the letter to see where testimony goes.

Dorothy Atkins@doratki
5h

The jury is in the courtroom and Robert Amenta, deputy chief investigator at the New York Federal Reserve Bank, is on the stand presumably to testify about $$$ wire transfers made to Theranos. His exam should be pretty quick (ie. ~20 mins).

Dorothy Atkins@doratki
5h

Amenta's exam wrapped with him testifying about a bunch of multimillion-dollar wire transfers to Theranos. The gov't's called its next witness, ex-Walgreens exec Nimesh Jhaveri, who worked for the company for 29 years.

Dorothy Atkins@doratki
5h

Jhaveri said he first met Elizabeth Holmes and Sunny Balwani in 2010 when he gave them a 10-minute "tour" of a Walgreens store. He wasn't involved with Theranos again until late 2013/early 2014 when he was leading a team redesigning Walgreens' store design and layout, he says.

Dorothy Atkins@doratki
5h

Jhaveri was promoted in early 2014, and part of his new job was to help Theranos "operationalize" the company's product, which he explains means taking an idea and executing it in a store.

Dorothy Atkins@doratki
5h

Jhaveri says at Walgreens, he thought Theranos' finger-stick blood test was "extraordinary" and the small amount of blood required was important to the biz model. It "was the actual magic, which was intriguing to us," he says, adding Sunny Balwani was his main Theranos contact.
 
Dorothy Atkins@doratki
5h

Prosecutor pulls up a 2014 slide deck prepared for the Walgreens' "diagnostic testing program governance" committee," which included Sunny Balwani and Jhaveri, but notably not Holmes.

Dorothy Atkins@doratki
5h

The slide shows in Feb 2014, Theranos was in 3 Walgreens stores and served an avg of .8 patients per day. In May 2014 it was 11 stores serving 3.1 patients daily. It conducted 43% of the tests venously in Feb and 39% venously in May. Jhaveri says the goal was to do 0% venously.

Dorothy Atkins@doratki
5h

The slide deck shows Theranos' goal was to do less than 10% test venously by Oct 2014, but Jhaveri says that never happened. Jhaveri adds Balwani gave him the projections, b/c "obviously Walgreens is not the lab. We are not the developers of this technology."

Dorothy Atkins@doratki
5h

A slide made by Balwani says the reason for the high number of venous draws were b/c there was a "learning process" around ordering patterns from drs for Ariz and order patterns were dif than anticipated and Theranos was adding new cartridges rapidly to address the patterns.

Dorothy Atkins@doratki
4h

Jhaveri says he didn't know that Theranos testing devices had technical issues and he didn't know that Theranos was doing blood-tests with modified non-Theranos devices. He says "no one" was satisfied with the high number of venous draws, in part b/c that required phlebotomists.

Dorothy Atkins@doratki
4h

Jhaveri says in 2014 Walgreens cut its 2015 goal of rolling out Theranos stores from 500 to 200, b/c "some of the results of the pilots were good, some of the results were not good" so slowing down made sense. It was manageable to take a "crawl, walk, run approach," he says.

Dorothy Atkins@doratki
4h

In Aug 2014, Jhaveri wrote Sunny Balwani that they needed to have a "documented detailed plan" to improve patient experience and cut the venous draws to 10% if they want to expand outside Ariz. "We just weren’t hitting the metrics that we set out to do," Jhaveri says.

Dorothy Atkins@doratki
4h

In Nov 2014, Walgreens had launched Theranos in 40 stores in Arizona and 1 in Calif, but Theranos was still doing 40% of its tests venously, Jhaveri says.

Dorothy Atkins@doratki
4h

In Dec 2014, Jhaveri wrote Balwani that Walgreens and its board "are asking for transparency on the following: financial condition of the company (need it for our auditors), technology/process points so we can represent Theranos in a more comprehensive manner."

Dorothy Atkins@doratki
4h

Jhaveri says the board wanted the info and the people were asking questions "both internally and externally" about Walgreens' partnership with Theranos. He also asked how long they would need phlebotomists in Ariz.

Dorothy Atkins@doratki
4h

Jhaveri says after news articles publicized potential problems with Theranos' tech in late 2015, Walgreens stopped Theranos services at one store in Jan 2016 and "turned off" the rest of Theranos' services in its other stores the following June.

Dorothy Atkins@doratki
4h

Jhaveri and a prosecutor are reading through Elizabeth Holmes text exchanges with Sunny Balwani in Sept 2015. It's extremely difficult to follow.
 
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