Walgreens Deal Spurred Quick Theranos Investment, Jury Told

By Dorothy Atkins (May 13, 2022, 9:25 PM EDT) -- A Black Diamond Venture executive testified in ex-Theranos executive Ramesh "Sunny" Balwani's criminal fraud trial Wednesday that he moved quickly under a Theranos-imposed deadline to invest an additional $5.4 million in the blood-testing company in 2013, working Christmas Eve and Day, in part because of the Theranos-Walgreens partnership that Balwani spearheaded.

Chris Lucas recalled that former Theranos CEO Elizabeth Holmes notified him in early December 2013 that the private blood-testing company was offering Theranos stock by invitation only for $15 per share, but that buyers had to make their purchases by the end of the year.

Lucas wanted more time to...

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