SAN FRANCISCO — The felony trial of ex-Theranos CEO Elizabeth Holmes has been scheduled to begin in summer season 2020 — setting the stage for a blockbuster courtroom drama sure to command consideration far past Silicon Valley.
In a pretrial listening to in federal courtroom in San Jose, Calif., on Friday, federal prosecutors and protection attorneys agreed to start jury choice the week of July 28, 2020, and begin opening arguments on Aug. four, 2020, a spokesperson for the U.S. Lawyer’s Workplace confirmed. The trial is predicted to final for about three months.
Holmes and her former No. 2 Sunny Balwani are accused of defrauding buyers, sufferers, and docs in a blood-testing scandal that introduced down well being care’s richest venture-backed startup and a parable for the hazards of medical hype and hubris. The saga has gone mainstream in a approach that few business controversies do, changing into the topic of a e book, a podcast, and competing documentaries.
Holmes and Balwani have been charged with two counts of conspiracy to commit wire fraud and 9 counts of wire fraud. They’ve every pleaded not responsible, and face a most of 20 years in jail and as much as $2.7 million in fines. That determine doesn’t embrace any money the federal government may demand as restitution for the alleged fraud.
The courtroom date subsequent 12 months marks one thing of a compromise between the 2 sides. Prosecutors had indicated a choice for a trial within the first half of subsequent 12 months, whereas attorneys for Holmes and Balwani had mentioned they wanted extra time to organize for a posh case involving numerous pages of documentation.
Hypothesis has abounded over what sort of protection Holmes and Balwani would possibly mount. They might blame one another — and the intrigue could be heightened by the truth that they had been beforehand in a romantic relationship, at a time once they ran the now defunct firm collectively and made the choices for which they’re now going through felony fees.
In accordance with prosecutors, Holmes and Balwani spent years mendacity in regards to the capabilities of their blood-testing know-how and the state of their enterprise whereas making grand projections with no foundation in actuality.
One other doable protection may contain putting the federal government on trial, by arguing that federal regulators improperly took motion towards the corporate. Central to that potential case is the reporting of John Carreyrou, the Wall Avenue Journal journalist who broke the story of wrongdoing at Theranos and whose reporting spurred a collection of regulatory investigations. In an obvious effort to bolster that protection, Holmes’s attorneys have sought information documenting Carreyrou’s communications with the Meals and Drug Administration and the Facilities for Medicare and Medicaid Providers.
The presiding choose at Friday’s listening to was Edward Davila, who usually hears circumstances associated to mental property and know-how.