Theranos just settled its lawsuit with Walgreens
The settlement dismisses the lawsuit, concluding that there was "no finding or implication of liability."In November 2016, Walgreens filed a $140 million lawsuit against Theranos, accusing Theranos of a breach of contract. Walgreens had ended its relationship with Theranos a few months prior in June 2016. It had operated Theranos Wellness Centers, where people could go have their blood tested in the company's stores.
The settlement with Walgreens is the last in a series of major settlements between Theranos and investors, as well as the state of Arizona.
- On April 17, Theranos said that it had settled up with Centers for Medicare and Medicaid Services, the government agency responsible for regulating blood-testing labs. As part of the settlement, Theranos has to pay $30,000, and the company won't be able to own or operate a clinical lab within the next two years. In return, the CMS is no longer revoking Theranos's CLIA certification, which is needed to run a blood-testing lab.
- On April 18, Theranos agreed to pay Arizona $4.65 million to refund anyone who paid to take one of Theranos's blood tests, and will also pay $225,000 to cover civil penalties and attorneys' fees.
- And on May 1, Theranos settled two lawsuits with Partner Fund Management, a hedge fund that invested $96.1 million in the company.
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