By Cat Forbes
Editor-in-Chief, Fox News Business News
Elizabeth Holmes, the founder of the biotech company Theranos, just pleaded her innocence to six felony counts in the federal government’s fraud case.
Speaking in a New York courtroom, she said, “I am innocent.”
Holmes told the judge she thinks she’s done nothing wrong and wants to go forward with the trial, suggesting it might take a year.
The company and Holmes have been sued by many financial backers. Their lawsuits claim the company was a Ponzi scheme, a death sentence for some patients and a “nuclear bomb” that could have “exploded at any time.”
Holmes apologized again in court for not being forthright with investors and clinicians about the company’s medical tests. She pleaded not guilty to charges that she defrauded investors.
She said that Theranos “made a judgment about which technologies would work best to serve clinicians and patients” and it backed off its stand when it became clear they didn’t work.
Several Theranos investors also spoke in court, including former Hewlett-Packard CEO and CEO Mark Hurd and Harvard Business School professor Nitin Nohria.
Watch Holmes re-live the day she came forward to the press:
Back in September 2017, after Theranos cut its payroll in half and sold several of its offices, a landmark story broke in the New York Times: