One reason why, reports The Wall Street Journal, is that it projected revenue for 2016 to be $2 billion and net to be $505 million.
As many of us now know, there are multiple investor lawsuits. Essentially, they claim they were misled.
But the plaintiffs may not get far with the litigation. At least not in the near future.
Theranos could file for bankruptcy. Incidentally, superlawyer David Boies is no longer representing the startup. They parted company over his strategy for managing the regulatory challenges.
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