DIGGER27
In Memory Of
$140 million lawsuit because Theranos breached a contract...supposedly.
http://fortune.com/2016/11/08/walgreens-theranos-lawsuit/
"Walgreens’ lawsuit reportedly claims that it was misled by Theranos over the state of its blood-testing technology when the companies first struck a deal and even as its technology was beginning to be challenged, according to the Wall Street Journal, citing anonymous sources. Walgreens invested $140 million in Theranos in the form of debt convertible to equity, which is the amount it seeks to recover in the lawsuit.".
Too bad they believed them and their claims about their dubious technology.
Many believed them but the signs were there, a hidden, untested by others scientific process, public statements regarding that process that essential had no information and proved nothing.
A closed off company inner structure that rivaled North Korea in its hidden mysteries and abilities to keep most everyone that worked there in the dark.
Questions from scientists and their competitors that never came close to being able to do what this company claimed they could all went unanswered from the beginning.
Didn't stop Walgreens from investing tons of money in their company and in remodeling costs in 40 of their stores...on their way to all of them.
Theranos rose high to an estimated company worth up to $9 billion....then a fall to $0 when it all came tumbling down.
Wonder if Walgreens shareholders can sue their own company for stupidity?
http://fortune.com/2016/11/08/walgreens-theranos-lawsuit/
"Walgreens’ lawsuit reportedly claims that it was misled by Theranos over the state of its blood-testing technology when the companies first struck a deal and even as its technology was beginning to be challenged, according to the Wall Street Journal, citing anonymous sources. Walgreens invested $140 million in Theranos in the form of debt convertible to equity, which is the amount it seeks to recover in the lawsuit.".
Too bad they believed them and their claims about their dubious technology.
Many believed them but the signs were there, a hidden, untested by others scientific process, public statements regarding that process that essential had no information and proved nothing.
A closed off company inner structure that rivaled North Korea in its hidden mysteries and abilities to keep most everyone that worked there in the dark.
Questions from scientists and their competitors that never came close to being able to do what this company claimed they could all went unanswered from the beginning.
Didn't stop Walgreens from investing tons of money in their company and in remodeling costs in 40 of their stores...on their way to all of them.
Theranos rose high to an estimated company worth up to $9 billion....then a fall to $0 when it all came tumbling down.
Wonder if Walgreens shareholders can sue their own company for stupidity?
