Even if the FD isn't actually a Director, surely they should have been receiving financial reports at the board meeting, and therefore satisfying themselves that they were being prepared by a competent person?
Announcement
Collapse
No announcement yet.
The standalone Theranos thread
Collapse
X
-
"Should" tends not to be a word with much impact in the Valley.
Holmes fired the company's original Chief Financial Officer in 2006 after he expressed doubts about the technology (and in particular a "demonstration" to Novartis that had been faked). Her control of the company and the board was such that she could ensure that the role went essentially unfilled.
None of this absolves the board, which clearly failed to fulfill its fiduciary duties, though it is their insurers who will almost certainly bear those costs.
Comment
-
Having some personal experience with the process of recruiting individuals for corporate boards, I can assure you that an absolutely massive concern of "sophisticated" candidates is the size and solidity of the company's "Directors and Officers' Liability" insurance coverage. It is rather more important to most of them than compensation.
Comment
-
Elizabeth Holmes is saying that she got into trouble because of John Carreyrou.
https://www.bloomberg.com/news/artic...source=twitter
Through pretrial information sharing with prosecutors, Holmes has unearthed Carreyrou’s early contacts with New York state regulators and various federal agencies, as well as his interactions and emails with a doctor in Arizona.
Holmes is pushing prosecutors to turn over every such communication they’re aware of because Carreyrou “went beyond reporting the Theranos story,” her lawyers said in a court filing. He prodded sources to lodge complaints about the company with regulators, and then lobbied agencies to pursue the complaints, according to the filing.
“The jury should be aware that an outside actor, eager to break a story, and portray the story as a work of investigative journalism, was exerting influence on the regulatory process in a way that appears to have warped the agencies’ focus on the company and possibly biased the agencies’ findings against it,” her attorneys wrote. “The agencies’ interactions with Carreyrou thus go to the heart of the government’s case.”
The Wall Street Journal said Friday it stands behind Carreyrou’s reporting, which won multiple journalism prizes.
Comment
-
Originally posted by ursus arctos View PostHer lawyers have very little to work with.
https://abcnews.go.com/Business/lawy...ry?id=66063299
(Apparently you can't get blood from...etc...)
Comment
-
Originally posted by ursus arctos View Post
Comment
-
This may seem desperate, but given the evidence, it is likely Holmes' best bet at peeling at least off one juror and thereby getting at least a mistrial.
https://twitter.com/davidgura/status/1431692465610924038?s=21
Comment
-
Silicon Valley is always weirder than I can imagine
https://twitter.com/doratki/status/1435621048473456643?s=21
Comment
Comment