Explain what remedy would likely be granted by a court given the statute and case law involved?
The rise and fall of Real-time cures, the Theranos by Elizabeth Holmes has remained a subject of damning allover the American streets. The falling and rising of the young 19-year-old Stanford dropout, who by her time building up Theranos, rose to the wealthy class of young billionaires. The crashing down of a million-dollar company of Elizabeth Holmes came 15 years later when the Theranos technology’s inaccuracies were exposed together with the tricks Elizabeth played in covering it all.
The realization of fraud activities in Theranos led to the closure of all lab and testing activities rendering Elizabeth a court case. The statute of Elizabeth’s fraud requires specific contracts to be memorized in writing and follow a clear indication of signatories of the charged with sufficient evidence as well as case law is involved. Therefore, the Theranos case requires the following remedy to be granted to Elizabeth Holmes.
Firstly, in its power, the law requires Elizabeth Holmes, the owner, and founder of Theranos cure solutions, to verify its blood-testing technology, which is expected to have been a lie to citizens. What remains next for the company is to determine what is the lawsuit for the company. Chances suggest that if the company is guilty of fraud, its employees and investors will come clowing for their money.
Therefore, the case is likely to be granted a legal remedy of damage that may be a monetary reward to the non-breaching party. Theranos is held responsible for fraud results that have caused more harm/damage than good.
References
Dundes, L., Buitelaar, M. S., & Streiff, Z. (2019). Bad Witches: Gender and the Downfall of Elizabeth Holmes of Theranos and Disney’s Maleficent. Social Sciences, 8(6), 175.
Holmes, E. A., Roy, S., Howard, J., & Wang, C. (2007). U.S. Patent No. 7,291,497. Washington, DC: U.S. Patent and Trademark Office.
Purkayastha, D., Dutta, S., & Chakravarty, S. (2020). Dark Side Case: Elizabeth Holmes and the Rise and Fall of Theranos Inc. Academy Of Management Proceedings, 2020(1), 12239. https://doi.org/10.5465/ambpp.2020.12239abstract