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Theranos Settles Suits Accusing Startup of Duping Hedge Fund

By Tony Seruga

Accord resolves Partners Management Fund’s Delaware suits
Theranos seeking to end other litigation over testing scandal

Theranos Inc. agreed to settle an early investor’s claims that the embattled blood-testing firm misrepresented its performance and technology in order to raise more than $96 million in funding.

Partner Management Fund LP will drop two lawsuits related to the startup’s fumbling of blood tests, Theranos officials said Monday in an emailed statement. Terms of the accord weren’t released.

The settlement clears the way for Theranos to push ahead with a plan to offer additional preferred shares to investors who agree not to sue in the wake of scandals involving the Palo Alto, California-based company’s blood-testing capabilities…

Theranos Settles Suits Accusing Startup of Duping Hedge Fund

Categories : Hedge Funds

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