Weekly The Generation, Year 1, Issue 16
December 19, 2023
The judge agreed that Holmes’s case was different from Milton’s because Theranos marketed faulty technology that affected people’s health. But Ramos did not accept Milton’s explanation that he spoke with enthusiasm and did not intend to harm investors.
“The law does not grant a pass for good intentions,” he said.
Milton was convicted in October 2022 on one count of securities fraud and two counts of wire fraud, and acquitted on an additional securities fraud count. Nikola in 2021 agreed to pay $125m to settle civil charges brought by the US Securities and Exchange Commission.
The company’s shares now trade for less than $1, down from a peak of higher than $60 in June 2020.
Source: The Guardian
