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Theranos, Walgreen settle lawsuit

August 2, 2017

Medical device manufacturer Theranos announced that it has settled a lawsuit brought against it by retailer Walgreens Boots Alliance Inc. (WBA)  following the company’s termination of its relationship with Theranos amid mounting regulatory issues.

Walgreens sued Theranos in November after it dumped the company amid regulatory concerns over a blood-testing device, claiming that Theranos breached its contract with the company.

The original court document indicates that Walgreens was seeking $140 million in damages, according to the Financial Times. Walgreens had to shut down operations at all care centers that were run by Theranos in June last year.

http://bit.ly/2uU9jIn

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