SEC's Theranos Probe Shows Unicorn Hunt Not A Myth

Law360, New York (April 19, 2016, 10:11 PM EDT) -- The news that blood-testing company Theranos Inc. is under investigation by the U.S. Securities and Exchange Commission offers the latest proof that the Wall Street regulator has its sights trained on Silicon Valley’s privately held unicorns.

The widely reported disclosure that both the SEC and the U.S. attorney’s office in San Francisco have opened investigations into Theranos marks the latest escalation of woe for the once high-flying private company that’s been valued at $9 billion.

But it also shows how the SEC is following up on concerns that its chair, Mary Jo White, recently raised about the “eye-popping” valuations of unicorns....

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