Skip to content
Subscriber Only

Theranos Director Defends CEO, Says Investors Have Faith

  • Holmes `clearly equipped to be CEO,' board member Boies says
  • Blood testing startup is facing probes from SEC, U.S. Attorney
Bloomberg business news

Theranos Adds SEC Investigation to Blood Test Scrutiny

Updated on

Theranos Inc. board member David Boies defended Chief Executive Officer Elizabeth Holmes on Tuesday, saying she has the management and scientific skills to lead the blood-testing startup despite criminal and civil investigations of the company by U.S. authorities.

Boies, whose law firm Boies, Schiller & Flexner LLP is providing legal advice to Theranos, said in a telephone interview that the board hasn’t felt pressure from investors even as the company comes under scrutiny by state and federal agencies. The Palo Alto, California-based company said on Monday that it’s under investigation by the U.S. Securities and Exchange Commission and the U.S. Attorney’s Office in San Francisco.