Holmes to recount stand for third day in Theranos fraud trial

Theranos founder Holmes denies trying to mislead on Pfizer partnership
© Reuters. Theranos founder Elizabeth Holmes leaves after attending her fraud trial at federal court in San Jose, California, U.S. November 22, 2021. REUTERS/Brittany Hosea-Small

By Jody Godoy

SAN JOSE, Calif. (Reuters) -Theranos founder Elizabeth Holmes testified in her fraud trial on Tuesday that she didn’t intend to misrepresent the work the now-defunct blood testing startup did with Pfizer Inc (NYSE:) by collectively with the drugmaker’s stamp to a story Theranos had prepared.

Holmes took the stand for a third day to defend herself from accusations of lying about Theranos, which had touted abilities that can maybe maybe moreover lumber diagnostic tests faster and additional accurately than old vogue lab testing with a drop of blood from a finger sever.

Prosecutors accept suggested Holmes misrepresented its work with pharmaceutical companies Pfizer and Schering-Plough by collectively with the company emblems in an strive and jog off Theranos’ conclusions as theirs.

Holmes admitted that she added the emblems to the experiences exact ahead of sending them to pharmacy operator Walgreens, which used to be discussing a partnership with Theranos in 2010, to bring the drugmakers’ involvement in promising be taught utilizing Theranos abilities.

“I desire I had completed it otherwise,” Holmes talked about.

Holmes also testified that she didn’t conceal the addition from Pfizer, exhibiting jurors an e-mail where the narrative with the logo used to be despatched to contributors at Pfizer in 2014.

Holmes, 37, beforehand spent about two-and-a-half hours on the stand nL1N2SD1LZ on the courthouse in San Jose, California, discussing Theranos’ abilities and its certain performance in early be taught.

Once valued at $9 billion, Theranos collapsed after the Wall Boulevard Journal printed a sequence of articles starting in 2015 that suggested its devices had been mistaken and mistaken.

Holmes’ resolution to testify is unstable as it exposes her to a doubtlessly tricky incorrect-examination by prosecutors.

The trial has shone a highlight on Silicon Valley open up-ups, which incessantly appeal to high valuations basically based mostly on promises of future success relatively than true income and income.

On the starting of the trial, Holmes’ felony professional instant the jury that Holmes used to be a hardworking entrepreneur and that the failure of her industry used to be not against the law.

Over the two-month trial, jurors accept heard testimony from extra than two dozen prosecution witnesses, collectively with patients and investors whom prosecutors jabber Holmes deceived.

Holmes has pleaded not responsible to nine wire fraud counts and two conspiracy counts.

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