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Home / Business / The lawyers of Theranos founder Elizabeth Holmes say they have not been paid

The lawyers of Theranos founder Elizabeth Holmes say they have not been paid

  • Elizabeth Holmes, the founder of the disgraced Theranos blood test startup, has been on trial since exposing inaccuracies and shortcomings in the company in 2015.
  • Last week lawyers defended Holmes against a class action suit filed an application to withdraw from their representation because they had not been paid by court records for more than a year for their services, and it would be "unfair and unreasonable" for them she continues to represent her.
  • More stories can be found on the homepage of Business Insider.

Three lawyers defending Elizabeth Holmes in federal court are trying to break the case because they say The Theranos founder, once worth $ 4.5 billion, has not paid her for over a year.

Lawyers working at Cooley LLP law firm have argued that Holmes is facing a class action lawsuit filed by former Theranos patients who claimed that their blood tests had led to inaccurate results right from the beginning and had cost them unnecessary medical attention.

Last week, however, the attorneys filed for repossession as a solicitor for Holmes. According to court records, Holmes Cooley has "not paid more for his defense work for more than a year." The law firm does not expect Holmes to "ever" pay them for services, considering the "current financial situation," according to documents. The Mercury News reported for the first time on the lawyers' request to retire as a lawyer. [1

94559005] Read more: Theranos founder Elizabeth Holmes is being arrested for fraud. The process is scheduled to start in the summer of 2020.

The class action lawsuit was filed in Phoenix in 2016, where Theranos ran several "blood centers" for blood testing in nearby Walgreens stores. Holmes – as well as Walgreens and Theranos, who are also known as defendants – have all denied wrongdoing in this case. No trial date has been set.

The civil claim in question is different from the one in which charges are brought against Holmes, which could possibly lead to imprisonment. In this case, the Ministry of Justice has indicted the former president of Holmes and Theranos, Sunny Balwani, for multiple frauds. The prosecution is based on allegations that Holmes and Balwani, who had been hiding at Theranos most of the time, had cheated on the startup's investors, doctors and patients, even though they knew the test results were inaccurate and false, and unreliable.

The criminal case is due to begin in July 2020. Both Holmes and Balwani could face imprisonment of up to 20 years and a fine of $ 250,000 plus compensation for each charge.

The Lawyers The defense of Holmes in the criminal case did not answer Business Insider's questions as to whether they were paid for their representation.

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