3 ms·
Classic conflict of interest: Boies was not only the company's counsel, he was a director and his firm was a shareholder, his partner was Theranos' general coun
by pseingatl 10y ago
Classic conflict of interest: Boies was not only the company's counsel, he was a director and his firm was a shareholder, his partner was Theranos' general counsel. The interests of the firm were to keep Theranos operating as a going concern, keep the contract with Walgreens, stop the federal investigation (Madoff and the SEC anyone?) and keep the money flowing. His partners' ambushing a suspected whistleblower was thuggery. Theranos was a Madoff-type operation because everyone thought that a former head of NASDAQ with a blackbox split/strike conversion strategy couldn't possibly be a fraudster. Theranos had a contract with Walgreens, was approved by Medicare, was a billion dollar company--how could it possibly be a snake oil vendor? But he was and they were. Boies tried to keep the game running as long as he could and who knows, maybe he drank the Theranos Kool-Aid as well, but now it is obvious that there's no there there and Theranos is doomed.