A U.S. prosecutor told jurors on Thursday that Theranos founder Elizabeth Holmes lied to investors to obtain critical funding for her blood-testing startup, while her lawyer argued that she never meant to deceive anyone.
, in a case that has shed light on Theranos' failed endeavor to revolutionize lab testing with small machines that used only a few drops of blood.
"The picture can change quite a good deal as a result of waiting for the full story," Downey said during his closing argument. He said prosecutors had not given them information about Theranos' successful projects with drug companies, which were included in Holmes' defense case. Theranos collapsed after the Wall Street Journal published a series of articles starting in 2015 that suggested its devices were flawed and inaccurate. Holmes was indicted in 2018.
He recalled testimony from six investors that Holmes gave them false impressions that Theranos devices could carry out a broad range of tests and that they were being used by the U.S. military in the field.
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