As more and more information questioning the efficacy and safety of the blood-testing technology developed by Theranos becomes public, the entertainment world is taking notice and betting that movie audiences will want to see what went on behind the scenes at the company that created the Edison blood-testing technology that has resulted in two years worth of tests being declared void. Variety reports that Hunger Games star Jennifer Lawrence has signed on to portray Elizabeth Holmes, the founder of Theranos Inc., in a film entitled Bad Blood, which will apparently tell the story of Holmes and her company’s troubled Edison products which have caused numerous regulators to investigate the company for inaccurate testing and claims.
The film will be directed and written by Adam McKay, who created last year’s The Big Short which took on the subprime mortgage crisis of 2008, and will be based upon a forthcoming book by Wall Street Journal reporter John Carreyrou, who has conducted an in-depth investigation of the company.
The Facts Behind Bad Blood
Of course, not all corporate scandals get the Hollywood treatment, but it is easy to see why the ongoing investigation into Theranos’ business practices has attracted such attention. The company was started by Holmes while still a teenager as a way to provide blood testing with only a few drops of blood. Despite dropping out of college before even earning an undergraduate degree in Chemistry, Holmes attracted the attention of venture capitalists who saw big money to be made in blood testing.
Theranos used the Edison blood-testing technology in 200 different types of tests, but the FDA in October 2015 approved it for use in only one type of blood test. Although the company was valued at $9 billion (half of which was owned by Holmes, causing Forbes magazine to declare her the richest self-made woman in America), investigations by the Wall Street Journal and government oversight agencies suggested that the Edison technology was not peer reviewed and that its results could not be trusted. In January 2016, the Centers for Medicare and Medicaid Services announced that practices conducted at a a Theranos testing facility posed an “immediate jeopardy to patient safety.”
Following these investigations and findings, Theranos announced in May 2016 that it was voiding two years of results from its Edison devices.
McCuneWright’s Ongoing Class Action Against Theranos
The complex litigation attorneys of McCuneWright have filed a class action litigation against Theranos on behalf of all persons whose paid for testing conducted by Theranos’ Edison device in 2014 and 2015, the two years for which tests have been voided. More information will continue to come out concerning Theranos’ practices and what compensation class plaintiffs may be entitled to for injuries they suffered due to Theranos’ actions. To learn more about how you can be a part of the ongoing class action against Theranos, click here.