Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion.
Theranos founder Elizabeth Holmes and former CEO Ramesh "Sunny" Balwani were on Tuesday ordered to pay $452 million to victims of the blood-testing startup's fraud, and an appeals court also denied Holmes' request to remain out of prison while challenging her conviction.
A judge on Monday denied Theranos founder Elizabeth Holmes request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion.
Many cases were filed under California’s Private Attorneys General Act and made the headlines in 2022. PAGA authorizes employees to file lawsuits to collect penalties for California Labor Code violations on behalf of the state’s Labor and Workforce Development Agency.
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