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Billion-Dollar-Baby Broke: Theranos Founder Holmes Unable To Pay Lawyers

Billion-Dollar-Baby Broke: Theranos Founder Holmes Unable To Pay Lawyers

It is hard not to gloat in a sea of schadenfreude soup as reports of the once golden-girl of Silicon Valley, now exposed (allegedly) as a complete fraud (allegedly), has hit such a low that she is now unable to pay her attorneys.

Just two years after being heralded by any and all mainstream media-ites as the next Steve Jobs, Theranos founder Elizabeth Holmes now reportedly faces a civil case from her lawyers who claim she hasn’t paid them for more than a year and probably never will, according to court records, and they don’t want to be her lawyers anymore.

“Ms. Holmes has not paid Cooley for any of its work as her counsel of record in this action for more than a year,” lawyers Stephen Neal, John Dwyer and Jeffrey Lombard said in the filing.

“Further, given Ms. Holmes’s current financial situation, Cooley has no expectation that Ms. Holmes will ever pay it for its services as her counsel.”

As The Mercury News reports, the lawyers are seeking approval from the court to stop representing Holmes.

“It is unfair and unreasonable to require Cooley to continue representing Ms. Holmes in this action,” said the filing.

As a reminder, The FBI has alleged that Holmes and Balwani endangered health and lives through their fraudulent blood-testing, with a trial date set for July 28 next year.

Billion-Dollar baby no more.


Tyler Durden

Mon, 10/07/2019 – 11:41


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About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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