Feds Can't Pause SEC's Civil Suit Against Ex-Theranos Exec

Law360 (June 14, 2019, 11:17 PM EDT) -- A California federal judge on Friday refused the government's request to pause a civil suit against former Theranos executive Ramesh “Sunny” Balwani, finding that doing so would be "a gamble" that could unduly prejudice the former leader of the failed blood-test company.

Balwani, Theranos’ former chief operating officer, is facing allegations he and founder Elizabeth Holmes swindled investors out of more than $700 million by misrepresenting the capabilities of the company’s fledgling portable blood analyzer, according to court filings. The U.S. Securities and Exchange Commission filed the suit in March 2018.

In April, the U.S. Department of Justice urged the court...

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California Northern

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Date Filed

March 14, 2018

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