Theranos As a Legal Ethics Case Study
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Theodore Olson, Conservative Stalwart, to Represent 'Dreamers' In
Theodore Olson, Conservative Stalwart, to Represent ‘Dreamers’ in Supreme Court By Adam Liptak • Sept. 26, 2019 o WASHINGTON — The young immigrants known as “Dreamers” have gained an unlikely ally in the Supreme Court. Theodore B. Olson, who argued for robust executive power in senior Justice Department posts under Republican presidents, will face off against lawyers from President Trump’s Justice Department in a case over Mr. Trump’s efforts to shut down a program that shields some 700,000 young undocumented immigrants from deportation and allows them to work. In an interview in his office, Mr. Olson said he had generally taken a broad view of presidential authority, particularly in the realm of immigration. “Executive power is important, and we respect it,” he said. “But it has to be done the right way. It has to be done in an orderly fashion so that citizens can understand what is being done and people whose lives have depended on a governmental policy aren’t swept away arbitrarily and capriciously. And that’s what’s happened here.” Mr. Olson has argued 63 cases in the Supreme Court, many of them as solicitor general under President George W. Bush. In private practice, he argued for the winning sides in Bush v. Gore, which handed the presidency to Mr. Bush, and Citizens United, which amplified the role of money in politics. But Mr. Olson disappointed some of his usual allies when he joined David Boies, his adversary in Bush v. Gore, to challenge California’s ban on same-sex marriage. That case reached the Supreme Court and helped pave the way for the court’s 2015 decision establishing a constitutional right to such unions. -
Ruling for Starr International Companies Win for Barclays Digital
July 2015 REPORT Ruling for Starr International Companies Digital Music Trial Boies, Schiller & Flexner Chairman David Bernanke and former Treasury Secretary Major publications reported on one of the Boies and a team of lawyers from the Firm Timothy Geithner, the Boies, Schiller most impressive antitrust trial wins of the won what many had considered an against- & Flexner team also shed light on the year in December 2014, when Apple Inc. the-odds victory in a case against the U.S. inner workings of the government in the fought off accusations that it had used an government for illegally taking over insurer financial crisis. Bloomberg News said “the iTunes software update to create a monopoly AIG at the height of the financial crisis of ruling solidifies Mr. Boies’s reputation for in the digital music market. As noted by those 2008. Judge Thomas Wheeler ruled on June winning long-shot cases,” while the Wall publications, the jury verdict for the defense 15, 2015, that the government violated the Street Journal described Mr. Boies as “one ended a decade-long dispute in which the law when it took a controlling stake in AIG. of the best trial lawyers in the country.” plaintiffs sought more than $1 billion in treble “The government’s unduly harsh treatment The court denied plaintiffs’ claims for damages under the Sherman Act. Apple’s of AIG in comparison to other institutions damages, based on a legal ruling that is lawyers repeatedly pointed out the plaintiffs’ seemingly was misguided and had no now on appeal. The trial team included Bob side lacked any actual iPod customers saying legitimate purpose,” Judge Wheeler wrote in Silver, Alanna Rutherford, Amy Mauser, Bob they were harmed, the NewYork Times reported. -
Doe V. Backpage
No. 16-276 IN THE Supreme Court of the United States __________ JANE DOE NO. 1, ET AL., Petitioners, v. BACKPAGE.COM, LLC, ET AL., Respondents. __________ On Petition for a Writ of Certiorari to the United States Court of Appeals for the First Circuit __________ MOTION FOR LEAVE TO FILE AMICI CURIAE BRIEF AND AMICI CURIAE BRIEF OF LEGAL MOMENTUM, CINDY MCCAIN, FLORIDA ABOLITIONIST, NATIONAL CENTER ON SEXUAL EXPLOITATION, THE ORGANIZATION FOR PROSTITUTION SURVIVORS, RISING INTERNATIONAL, SOJOURNER CENTER, STOLENYOUTH, STREETLIGHT USA, AND YWCA OF SILICON VALLEY IN SUPPORT OF PETITION FOR A WRIT OF CERTIORARI __________ KAREN A. CHESLEY DAVID BOIES BENJAMIN MARGULIS Counsel of Record JOANNA WRIGHT BOIES, SCHILLER & FLEXNER LLP ALEXANDER BOIES IEVGENIIA VATRENKO BOIES, SCHILLER ALEX T. POTTER & FLEXNER LLP 333 Main Street 575 Lexington Avenue Armonk, NY 10504 New York, NY 10022 Phone: (914) 749-8200 [email protected] Counsel for Amici Curiae MOTION OF AMICI CURIAE FOR LEAVE TO FILE BRIEF IN SUPPORT OF PETITION FOR CERTIORARI Amici curiae Legal Momentum, Cindy McCain, Florida Abolitionist, the National Center on Sexual Exploitation, the Organization for Prostitution Survivors, Rising International, Sojourner Center, StolenYouth, Streetlight USA, and the YWCA of Silicon Valley respectfully move for leave of Court to file the accompanying brief under Supreme Court Rule 37.3(b). Counsel for Petitioner has consented to the filing of this brief; counsel for Respondent has withheld consent. As set forth more fully below, amici provide legal, advocacy, social services and other support to trafficking survivors and educate the public on the widespread harm caused by sex trafficking. -
The Effect of FOMO on Stakeholder Enrollment
The Effect of FOMO on Stakeholder Enrollment Susan L. Young, PhD Kennesaw State University Kennesaw, GA Ph: 470-578-4536 [email protected] Birton Cowden, PhD Kennesaw State University Kennesaw, GA Ph: 470-578-36781 [email protected] 1 The Effect of FOMO on Stakeholder Enrollment Abstract Stakeholder theory suggests dishonest ventures would struggle with stakeholder enrollment, limiting resource access and ultimately failing. Yet cases exist where amoral entrepreneurs do enroll stakeholders through deceit. We propose “fear of missing out” on an opportunity facilitates enrollment by encouraging stakeholder acceptance of information asymmetry. To illustrate we use exemplar Theranos: a biotech firm which convinced stakeholders it would revolutionize healthcare, rising to a $10 billion valuation through 15 years of sustained deceit. We contribute to theory by demonstrating the dark side of stakeholder enrollment, where opportunism increases venture power over stakeholders, and deceit can endure long past start up. Keywords: stakeholder theory, stakeholder enrollment, entrepreneurial deceit, fear of missing out, legitimacy 2 The Effect of FOMO on Stakeholder Enrollment “Theranos had demonstrated a commitment to investing in and developing technologies that can make a difference in people’s lives, including for the severely wounded and ill. I had quickly seen tremendous potential in the technologies Theranos develops, and I have the greatest respect for the company’s mission and integrity.” (Johnson, 2015) — 4-star General Jim Mattis, U.S. Marine Corps, Retired U.S. Secretary of Defense, 2017-2019 The Securities and Exchange Commission today charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance. -
Downloads/Aib Provincial Wait Times E.Pdf; 18, 2006)
Committee for Economic Development Comm 2000 L Street N.W., Suite 700 A StatementStatement bbyy tthehe Washington, D.C. 20036 RResearchesearch aandnd PPolicyolicy 202-296-5860 Main Number 202-223-0776 Fax CCommitteeommittee ooff tthehe 1-800-676-7353 CCommitteeommittee fforor EEconomicconomic DDevelopmentevelopment www.ced.org A Statement by the Research and Policy Committee of the Committee for Economic Development i Quality, Aff ordable Health Care for All Moving Beyond the Employer-Based Health-Insurance System Includes bibliographic references ISBN #0-87186-187-9 First printing in bound-book form: 2007 Printed in the United States of America COMMITTEE FOR ECONOMIC DEVELOPMENT 2000 L Street, N.W., Suite 700 Washington, D.C., 20036 202-296-5860 www.ced.org Contents Purpose of Th is Statement . xi Executive Summary . 1 I. Introduction. 9 Why Another CED Statement on Health Care?. 9 Is the U.S. Health-Care System Failing? Performance Standards for a Nation’s Health-Care System . 10 Does the American Health-Care System Meet Th ese Standards? . 11 Why Is Employer-Based Health Insurance Declining?. 12 Th e Causes of High and Rising National Health Expenditures . 12 EBI Costs Cause Major Problems for Employers . 14 Employer Responses to Date Have Not Solved the Problem . 15 Buyers Cannot Hold Th eir Health Expenditure to Sustainable Growth Rates. 16 Conclusion . 18 II. Why 35 Years of “Band-Aids” on a Fundamentally Flawed System Did Not Work. 21 Why One Popular Idea – the Consumer-Directed Health Plan – Will Not Work. 24 Consumer Direction . 24 High-Deductible Health Insurance. 24 Why Canada’s “Single-Payer” System or “Medical Care for All” Will Not Solve Our Health-Care Problems. -
Debates9 963919 9878034 Final Group Paper
Group 9 Against Edison- Potential Patients Kendall Travis, Charles Goff, Jenna Lang, Isaiah Watts Position: Against Edison Perspective: Potential Patients Strategy: Against Edison- Potential Patients Background As appealing as Theranos’s low prices are for blood testing, the cost of that is results that are far from the truth. The lab technicians who work at Theranos have little faith in the tests that they do. They feel criminal, uncertain, and concerned enough to the point where they would never do a test there or allow a family member to. For anyone to work there, non-disclosure agreements have to be signed. Clearly the company is hiding something. And for the many workers who have quit Theranos, they have spoken up about how defective everything is there, knowing it would result in the harassment and hounding from Theranos’s team of lawyers and higher up individuals, a price they were willing to pay to warn potential patients like us. The life-changing effects of Theranos’s work have all been anecdotal claims from Elizabeth Holmes, her work is discovered in isolation, and also her work is impossible to achieve with a single drop of blood according to medical experts. All of these are signs of bogus science that can be tied to Theranos. The list of concerns we have compiled comes from watching The Inventor: Out for Blood in Silicon Valley on HBO. The documentary alone has made it easy for us, as potential patients, to see that Theranos is a fraudulent and unfit company that is unethical for any patient to go to. -
A Work Project Presented As Part of the Requirements for the Award of a Master’S Degree In
A Work Project presented as part of the requirements for the Award of a Master’s degree in Finance from the Nova School of Business and Economics. THERANOS: BETTING ON BLOOD DIOGO JESUS NETO Work project carried out under the supervision of: Paulo Pinho 06-01-2020 Abstract Theranos was a Silicon Valley start-up founded by Elizabeth Holmes in 2003. Holmes claimed to have developed a new blood-testing device that had the potential to revolutionize the healthcare industry. She established partnerships with Walgreens and Safeway to make her technology available nationwide. She also secured a prestigious board of directors and an equally impressive investor base that raised over $700 million at a peak valuation of $9 billion. However, an investigation by The Wall Street Journal revealed the company had misled investors and endangered patients’ lives. In 2018, Theranos collapsed after years of battling lawsuits and federal charges. Keywords: Theranos, Corporate Governance, Fundraising, Due Diligence This work used infrastructure and resources funded by Fundação para a Ciência e a Tecnologia (UID/ECO/00124/2013, UID/ECO/00124/2019 and Social Sciences DataLab, Project 22209), POR Lisboa (LISBOA-01-0145-FEDER-007722 and Social Sciences DataLab, Project 22209) and POR Norte (Social Sciences DataLab, Project 22209). 1 Theranos: Betting on Blood “One of the most epic failures in corporate governance in the annals of American capitalism”. - John Carreyrou1 On June 28, 2019, a crowd of journalists awaited Elizabeth Holmes at the door of the San Jose Federal Court in California for a pre-trial hearing2. She was accused of engaging in a multi-million- dollar scheme to defraud investors, doctors, and patients alongside her former partner, Ramesh “Sunny” Balwani. -
Rethinking the Federal Securities Laws
Florida International University College of Law eCollections Faculty Publications Faculty Scholarship 2003 Accountants Make Miserable Policemen: Rethinking the Federal Securities Laws Jerry W. Markham Florida International University College of Law Follow this and additional works at: https://ecollections.law.fiu.edu/faculty_publications Part of the Banking and Finance Law Commons Recommended Citation Jerry W. Markham, Accountants Make Miserable Policemen: Rethinking the Federal Securities Laws, 28 N.C.J. Int'l L. & Com. Reg. 725, 812 (2003). This Article is brought to you for free and open access by the Faculty Scholarship at eCollections. It has been accepted for inclusion in Faculty Publications by an authorized administrator of eCollections. For more information, please contact [email protected]. +(,121/,1( Citation: Jerry W. Markham, Accountants Make Miserable Policemen: Rethinking the Federal Securities Laws, 28 N.C.J. Int'l L. & Com. Reg. 725 (2003) Provided by: FIU College of Law Content downloaded/printed from HeinOnline Tue May 1 11:26:02 2018 -- Your use of this HeinOnline PDF indicates your acceptance of HeinOnline's Terms and Conditions of the license agreement available at https://heinonline.org/HOL/License -- The search text of this PDF is generated from uncorrected OCR text. -- To obtain permission to use this article beyond the scope of your HeinOnline license, please use: Copyright Information Use QR Code reader to send PDF to your smartphone or tablet device Accountants Make Miserable Policemen: Rethinking the Federal -
Theranos' Bad Blood
Theranos’ Bad Blood In 2003, Stanford University student Elizabeth Holmes founded the health care company Theranos. The goal of the company was to revolutionize health care. Beginning with the goal of creating a patch to deliver drugs, the company instead shifted focus to developing a simple and effective method for blood diagnosis. Holmes dropped out of Stanford and began raising millions of dollars in funding. The company claimed that its technology could offer over 240 tests from just a prick of the finger. Test results could be delivered to a patient’s phone in hours, and a single test would cost less than half of the reimbursement rate of Medicare and Medicaid. Blood could be diagnosed easily without the need for many vials of blood drawn from patients’ veins or expensive lab work. By 2014, the company was valued at $9 billion, of which Holmes held a majority stake. Many investors backed the company based on the promise of the technology. Holmes received glowing profiles in news magazines, was featured on television shows, and presented keynote addresses at tech conferences. But the excitement of investors and the promise of the technology did not translate into success. Operating largely in a cloak of secrecy, the company could never validate its claims about its blood sampling technology, and many of its lab results went unchecked. In 2015, journalist John Carreyrou investigated the company for an article in The Wall Street Journal. He disclosed problems in the company’s equipment and testing methods. He found that the company did not even use its own technology in tests and often relied on older technology from other companies. -
Private Company Lies
Private Company Lies ELIZABETH POLLMAN* Rule 10b±5's antifraud catchall has been called one of the most conse- quential pieces of American administrative law and one of the most highly developed areas of judicially created federal law. Although the Rule broadly prohibits securities fraud in both public and private com- pany stock, the vast majority of jurisprudence, and the voluminous aca- demic literature that accompanies it, has developed through a public company lens. This Article illuminates how the explosive growth of private markets has left huge portions of U.S. capital markets with relatively light secur- ities fraud scrutiny and enforcement. Some of the largest private compa- nies by valuation grow in an environment of extreme information asymmetry and with the pressure, opportunity, and rationalizing culture that can foster misconduct and deception. Many investors in the private markets are sophisticated and can bear high levels of risk and signi®cant losses from securities fraud. It is increasingly evident, however, that pri- vate company lies can harm a broader range of shareholders and stake- holders as well as the ef®ciency of allocating billions of dollars for innovation and new business. In response to this underappreciated prob- lem, this Article explores a range of mechanisms to improve accountabil- ity in the private markets and ultimately argues for greater public oversight and enforcement. TABLE OF CONTENTS INTRODUCTION ..................................................... 354 I. THE DEVELOPMENT OF RULE 10B±5 IN A -
Rebecca Jarvis, AB ‘03
T H E U N I V E R S I T Y O F C H I C AG O | T h e C o l l e g e CLASS DAY 2 0 1 9 J U N E 14 PRESENTED BY: Rebecca Jarvis, AB ‘03 Hello class of 2019. Congratulations! I have good news and bad news. The bad news is that I’m not here to pay off your student loans. The good news is that I’m confident at least one of you out there today, will be able to make good on that class gift in the not so distant future. Thank you, Dean Boyer and Dean Ellison for the invitation to speak today. Thank you students for having me here to share in your class day celebrations! It is such an honor to be here with all of you. I graduated from the University of Chicago in 2003 with a degree in law, letters & society and economics. This campus is where i had some of the greatest debates of my life. Where my own assumptions and views were challenged daily. Where I learned how not what to think – truly one of the greatest gifts of a UChicago education. It’s also where I met my husband and made lifelong friends. But 16 years ago, sitting where you are, I still had so many questions. I was free! I was going to do big things. But how exactly would I do those big things? So I come here today with five hopefully valuable lessons, some more hard won than others, that I’ve learned on my post-UChicago journey. -
March 2013 Sunday Morning Talk Show Data
March 2013 Sunday Morning Talk Show Data March 3, 2013 25 men and 10 women NBC's Meet the Press with David Gregory: 5 men and 2 women Speaker of the House John Boehner (M) Gene Sperling (M) Rep. Raul Labrador (M) Kathleen Parker (F) Joy Reid (F) Chuck Todd (M) Tom Brokaw (M) CBS's Face the Nation with Bob Schieffer: 7 men and 1 woman Sen. Lindsey Graham (M) Sen. John McCain (M) Sen. Majority Whip Dick Durbin (M) Cardinal Timothy Dolan (M) Bob Woodward (M) David Sanger (M) Rana Foroohar (F) John Dickerson (M) ABC's This Week with George Stephanopoulos: 4 men and 3 women Gene Sperling (M) Sen. Kelly Ayotte (F) James Carville (M) Matthew Dowd (M) Paul Gigot (M) Mayor Mia Love (F) Cokie Roberts (F) CNN's State of the Union with Candy Crowley: 6 men and 1 woman Sen. Minority Leader Mitch McConnell (M) Gene Sperling (M) Rep. Steve Israel (M) Rep. Greg Walden (M) Mark Zandi (M) Stephen Moore (M) Susan Page (F) Fox News' Fox News Sunday with Chris Wallace: 3 men and 3 women Fmr. Gov. Mitt Romney (M) Ann Romney (F) Bill Kristol (M) Kirsten Powers (F) Fmr. Sen. Scott Brown (F) Charles Lane (M) March 10, 2013 25 men and 13 women NBC's Meet the Press with David Gregory: 6 men and 3 women Sen. Tim Kaine (M) Sen. Tom Coburn (M) Rep. Tulsi Gabbard (F) Rep. Cory Garnder (M) Joe Scarborough (M) Dee Dee Myers (F) Rep. Marsha Blackburn (F) Steve Schmidt (M) Ruth Marcus (F) Fmr.