Theranos Accused of Running Fake Tests, Using Outside Lab Gear

A shareholder's lawsuit accused Silicon Valley consumer healthcare company Theranos of buying outside lab equipment through a shell company, misrepresenting the health of the company's finances, and running fake tests.

Theranos countered that the accusations represented a "one-sided filing by one party to litigation" and that it would fight the allegations in court rather than respond to the accusations now. 

Hedge fund Partner Fund sued Theranos in October, saying that the company misled the fund when it solicited $96 million in funding in 2014. 

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