Those shares he acquired, for a total of $13.4 million, were instantly worth about $2.3 billion. Musk said he had sold about a million of the shares “solely” to cover taxes on 2,154,572 shares he picked up at $6.24 each. Tesla’s stock closed trading on Wednesday at $1,067.95, which would value the shares at about $4.8 billion, but some were sold for slightly higher prices. Musk sold about 4.5 million shares between Monday and Wednesday, according to filings with the Securities and Exchange Commission. Read moreĮlon Musk, the chief executive of Tesla, disclosed on Wednesday that he had sold about $5 billion worth of Tesla shares, in part to cover his tax obligations after exercising options on a large tranche of stock. “I found these instruments to be unsuitable for clinical use,” he said. Das testified that Theranos’s testing machines, which promised to do comprehensive blood testing on a drop of blood, had malfunctioned from the start.
Wade’s questions one-word answers, said he did not know Ms. Holmes, pointed out that she agreed to void the tests, despite “a fair amount of media scrutiny” and “potentially serious ramifications for the company.” Dr. In cross-examination, Lance Wade, a lawyer for Ms. Das disagreed and concluded that Theranos should void as many as 60,000 tests, sending patients a report that simply said, “Void.” Holmes, he said, she suggested an alternative explanation from Daniel Edlin, one of Theranos’s employees: The Theranos machines had not failed there was simply a problem with the quality-control processes.ĭr. The agency then sent the company a notice titled “Condition Level Deficiencies - Immediate Jeopardy.” In its report, the agency laid out how Theranos’s lab was not in compliance with regulations and said it was possible that every patient test the company conducted on one of its machines was inaccurate. Shortly after The Journal’s exposé of Theranos in the fall of 2015, the Centers for Medicare and Medicaid Services, the regulatory body that oversees laboratory testing, conducted an inspection of the start-up’s lab. Kingshuk Das, who became Theranos’s lab director in 2016, provided a look at the fallout from critical media reports about the company - and how Ms. Dhawan was a dermatologist with no experience in laboratory science. Sunil Dhawan, who testified earlier that he had spent a total of five to 10 hours doing work for Theranos. She left, she said, because she felt “very uncomfortable about the lack of clarity about the lab.”ĭr. Sawyer testified, was to sign documents that she could not edit.
She did not get reports about lab activities, she said, nor did she meet Ms. She said she hadn’t known it was developing its own tests and hadn’t heard of Edison and miniLab, Theranos’s testing machines, or the nanotainer, its blood collection cartridges. Sawyer said she had never set foot inside it, for instance. Lynette Sawyer, a public health doctor who was a co-director of Theranos’s lab in 20, testified to the lab’s fly-by-night nature.ĭr. Item 1 of 9 A lab director who never visited the lab Prosecutors said they were likely to rest their case against Ms. On Wednesday, the prosecution provided some timing clarity.
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Judge Davila’s public calendar has the trial set to end on Dec. Many of the boldface names on the prosecution’s list, like Henry Kissinger, Rupert Murdoch or David Boies, have not yet been called. By contrast, the homicide trial of Kyle Rittenhouse over the shootings last year in Kenosha, Wis., has heard 26 witnesses in six days. The prosecution has taken 10 weeks to get through 23 witnesses from a list of nearly 200 it could call. Many witnesses have said during testimony that their memory of events - some from more than a decade ago - was not crystal clear. Holmes’s pregnancy.īy the time jury selection began in August, six years had passed since The Wall Street Journal exposed how Theranos’s claims about its technology were not what they appeared to be. The delays, cancellations and other unexpected interruptions have added to a growing sense of time pressure for a trial that was originally set to begin in mid-2020 but was then postponed many times by procedural issues, the pandemic and, finally, Ms.
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