Delays, distracted jurors and disappointed investors: The Elizabeth Holmes trial so far

Only two alternate jurors remain with a month or more left in the trial

Former defense secretary Jim Mattis leaves federal court in San Jose, Calif., on Sept. 22. (David Paul Morris/Bloomberg News)
6 min

SAN JOSE — A former defense secretary. Text messages between lovers. Sudoku.

Those are some of the more exciting moments in a rather pedestrian first two months of the trial of Elizabeth Holmes, the former blood-testing start-up founder facing charges of wire fraud. A significant portion of the trial has been in-depth scientific and financial detail, including testimony from several former lab workers who grew concerned about Theranos’s technology.

But former defense secretary Jim Mattis, who was on the board, took the stand to say he would have had a different view of the company if he knew its limitations. And pages of text messages between Holmes and her then-boyfriend Sunny Balwani — who was also the company’s president — were read aloud in court. In an unexpected twist, a juror was excused for playing too much of the numbers game Sudoku.

Holmes is on trial for 12 counts of wire fraud and conspiracy to commit wire fraud for allegedly misleading investors and patients about the capability of the company’s blood-testing device. She has pleaded not guilty.

Blood, labs and fraud: Theranos’s Elizabeth Holmes is on trial

With a book, a documentary, a podcast and multiple investigations released in the years before the trial began, a lot of Theranos’s story has already been made public. But the trial has delved into details and minor revelations not yet explored.

The trial is scheduled to end in mid-December. Here’s everything you need to know to catch you up on what’s happened so far.

What to know about Theranos and Elizabeth Holmes

After a more than three-month proceeding, a federal jury found Theranos founder Elizabeth Holmes guilty on four counts of wire fraud and conspiracy to commit fraud against investors.

Holmes was accused of misleading investors and patients about the capability of her company’s blood-testing technology.

She testified that she believed the information she was providing to her prospective business partners.

For some, the trial was a chance to get the full story of what happened inside the company, and an opportunity for the Silicon Valley ethos to be held in front of a public mirror.

Fellow Silicon Valley entrepreneurs and backers say Holmes represented only the worst of start-up culture.

Robin Givhan: Elizabeth Holmes used every trope in the book

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