Walgreens Files Suit Against Blood Testing Company Theranos

By Heather van Blokland
Published: Wednesday, November 9, 2016 - 8:13am

Another lawsuit has been filed against blood testing company Theranos. This time by a former partner, Walgreens.

The suit alleges breach of contract, and is seeking $140 million. Theranos raised millions of dollars by pitching its at-home blood testing kits as cheaper and faster, but closed its labs after concerns about the effectiveness of its products.

In April, Theranos said it was under investigation or inspection by several government regulators.

Walgreens severed ties with Theranos in June, closing all 40 of its Wellness Centers in Arizona and California.

In July, founder Elizabeth Holmes was banned from owning or running a medical lab for two years.

Now, Walgreens has filed suit, claiming investor harm.

Theranos said it plans to respond to what it said were unfounded allegations.

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