Theranos settles with Walgreens
Photo of Elizabeth Holmes, the founder and CEO of Theranos. (Jeff Chiu / AP)
Theranos, Inc. has reached a confidential settlement with Walgreens, who will dismiss their lawsuit, according to Theranos' statement. The biotech company has faced a slew of lawsuits after the WSJ reported that it had used fake technology in demonstrations for clients and investors.
Why it matters: Theranos has been embroiled in lawsuits over the past couple of years after a series of WSJ reports raised questions about its technology and claims. Theranos had a big partnership with Walgreens, but the latter since terminated that and then sued Theranos for breach of contract