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Feds begin criminal investigation against Theranos
In a letter addressed to its partners, the once-promising blood test startup Theranos has admitted that it's under criminal investigation. According to multiple sources, the US Securities and Exchange Commission and the US Attorney's Office for the Northern District of California have started looking into whether the firm misled its investors about the state of its technology. The prosecutors even subpoenaed Walgreens, which offers the company's blood tests, and the New York State Department of Health within these past weeks. They asked both organizations for testimony on how Theranos described its tech to them, as well as for any document the company submitted. The Wall Street Journal says the criminal investigation's still in its very early stages, and it doesn't automatically mean the company will be indicted.
