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Major Investor Sues Theranos

wsj.com

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Re: Major Investor Sues Theranos

#2

Post by dsacco »

This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows:

• SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding.

• Sources are an internal "fund document" and "people familiar with the matter."

• The fund document was reviewed by WSJ and states:

"Through a series of lies, material misstatements, and omissions, the defendants engaged in securities fraud and other violations by fraudulently inducing PFM to invest and maintain its investment in the company"

• Suit was filed in Delaware Court of Chancery this afternoon.

• A Theranos spokesperson responded:

"The suit is without merit and Theranos will fight it vigorously. The company is very appreciative of its strong investor base that understands and continues to support the company¹s mission."

The rest of the article is catch-up background on Theranos' controversy.

Re: Major Investor Sues Theranos

#5

Post by ThrustVectoring »

dsacco wrote: post #2

This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows: • SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding. • Sources are an internal "fund document" and "people familiar with the matter." • The fund document was reviewed by WSJ and states…

FYI, the "web" link is exactly for this. Paywalled sources get penalized in Google's search results, so most of the time searching for the article's title and clicking the Google search results link gets you the full article.

Re: Major Investor Sues Theranos

#6

Post by julianpye »

One thing I find really weird is the choice of CEO photos in media reporting. If there is good news, they chose 'nice', attractive photos. If there is bad news, they look for worse ones. This is true for male and female founders. In this case, everything about this photo is an 'outtake', from hands, choice of framing, facial expression, eyes - it's a photo a photographer would not keep in their image selection.

Re: Major Investor Sues Theranos

#7

Post by dreamcompiler »

ThrustVectoring wrote: post #5
dsacco wrote: post #2

This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows: • SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding. • Sources are an internal "fund document" and "people familiar with the matter." • The fund document was reviewed by WSJ and states…

FYI, the "web" link is exactly for this. Paywalled sources get penalized in Google's search results, so most of the time searching for the article's title and clicking the Google search results link gets you the full article.

That used to work for me; it doesn't any more.

Re: Major Investor Sues Theranos

#10

Post by eykanal »

dsacco wrote: post #2

This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows: • SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding. • Sources are an internal "fund document" and "people familiar with the matter." • The fund document was reviewed by WSJ and states…

Tip for getting around paywalls (WSJ and NYTimes, prob others): Simply google the URL without any query terms* and click the first link.

* e.g., exclude anything after the "?"... if link is example.com/site/page.htm?foo=bar, google example.com/site/page.htm

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