The story about the fall of Theranos provides an important lesson for journalists about how we should be more diligent when reporting on the spin that companies use to promote themselves.
Last week, a federal grand jury returned an indictment against Elizabeth Holmes, the founder and former CEO of Theranos, and Ramesh “Sunny” Balwani, who served in various roles for the clinical laboratory testing company in Palo Alto, Calif. In an indictment unsealed Friday, the federal Department of Justice announced in a news release that Holmes and Balwani were alleged to have perpetrated multimillion dollar schemes designed to defraud patients, doctors and investors. Note that the release includes a link to a PDF of the indictment itself. Continue reading