Caught in the Theranos Wreckage: Betsy DeVos, Rupert Murdoch and Walmart’s Waltons
[ad_1] Even some of the world’s richest people may get duped, according to newly unsealed documents in a lawsuit filed on behalf of investors in the failing blood-testing company Theranos. High-profile investors who collectively lost hundreds of millions of dollars included Walmart’s Walton family, the media mogul Rupert Murdoch, as well as Betsy DeVos, the secretary of education and her relatives. The list of investors, which was first reported by The Wall Street Journal , came to light as part of a class-action lawsuit brought in 2016 by Robert Colman , a retired Silicon Valley investment banker, who claims that Theranos misled investors about its business and technology. Theranos, founded by Elizabeth Holmes when she was a 19-year-old Stanford University dropout, promised to revolutionize the lab industry using a few drops of blood from a simple finger-prick to look for everything from diabetes to cancer, at a fraction of the cost of a traditional blood test. The company became a Si...