Suspicion regarding this new technology began in 2015 with articles circling from big news outlets such as The Wall Street Journal and Business Insider. Elizabeth Holmes known as “the former darling of Silicon Valley” has been at the forefront of the allegations due to her position with the company, and her previous celebrity-type status with the media, who’ve latched onto her storyline: a beautiful woman who dropped out of Stanford at age 19 to become the founder of Silicon Valley-based company, Theranos Inc, all while wearing a similar “uniform” to Steve Jobs (a standard, black turtleneck).
The repercussions of which Holmes agreed upon during last week’s settlement include $500,000 in penalty, inability to serve as an officer or director of a public company for 10 years, and a return of the shares she obtained illegally. The press release provided by the Securities and Exchange Commission on March 14, 2018 made hardly any mention of Balwani’s repercussions, but stated, “The SEC will litigate its claims against Balwani in federal district court in the Northern District of California.”
