Walgreens to settle with Arizona and California consumers over Theranos
Walgreens has reached a tentative settlement with consumers in Arizona and California over blood tests involving Theranos.
Theranos claimed its finger-prick technology could run hundreds of lab tests using just a few drops of blood. Company founder Elizabeth Holmes helped raise more than half a billion dollars before being convicted of fraud and conspiracy last year.
Theranos established a major presence in Arizona through a partnership with Walgreens. Then Gov. Doug Ducey signed a bill allowing Theranos to market tests directly to consumers without a doctor’s order.
This week, in an Arizona federal court, a settlement notice was filed between Walgreens and consumers who claimed the drugstore giant was "willfully blind" to Theranos fraud.
Terms were not disclosed. Bloomberg reported that documents suggest lawyers to submit a request for court approval in about three weeks.