Theranos investor Betsy DeVos was misled by Elizabeth Holmes on the company's tech and financials, representative testifies
An investor at Betsy DeVos's family office told jurors that Elizabeth Holmes "very much downplayed" news reports about the blood-testing device being inaccurate.
DeVos, the former education secretary in the Trump administration, invested $100 million in Theranos in 2014. Lisa Peterson, who oversees private equity investments at RDV Corp. and handled the Theranos deal, testified on behalf of the family on Tuesday. She told jurors that Theranos shared financial projections, showing the company would have revenue of $140 million in 2014 and $990 million in 2015. Peterson said she didn't know that Theranos had no revenue in 2012 and 2013.
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