Elizabeth Holmes, Theranos’s former CEO, is set to enter a plea in a California court, according to The New York Times and documents filed by a defense attorney in a California state court.
The documents seek to have an order issued restraining a $4 million “hold.” The case has to do with whether Holmes’s company, Theranos, deserves that money in the wake of its collapse.
Oddly, Holmes appears to have bowed out of a scheduled deposition on Thursday. It’s unclear whether Holmes’s lawyers also filed an order for a restraining order in a California state court.
On June 21, lawyers for Holmes did appear in a California federal court to ask to enter a not guilty plea in a case brought by the Securities and Exchange Commission.
Not saying whether or not the SEC will bring charges against Theranos, attorney Sabrina Sullivan only said: “Given the very serious allegations that were outlined in the complaint filed by the SEC, it is appropriate to enter a not guilty plea to those claims.”
Theranos came under fire following numerous revelations from the Wall Street Journal. In 2015, Theranos was forced to stop testing blood at more than 40 clinics and nine blood labs, after the newspaper discovered a number of problems with the company’s test protocols.
Holmes, in addition to facing possible criminal charges, has been sued by the SEC for allegedly violating securities law.
The case filed by the SEC accuses Holmes and her co-founder Richard Baker of directing a scheme to misrepresent to investors the quality of Theranos’ blood testing technology. The company was once valued at nearly $9 billion and Holmes earned a reputation as one of Silicon Valley’s highest paid CEOs. Theranos denied the charges against it.