Walgreens seeks $140M in lawsuit against Theranos for breach of contract
{{#rendered}} {{/rendered}}Walgreens Boots Alliance Inc filed a lawsuit against Theranos Inc seeking damages worth $140 million, claiming the company breached a contract.
Reuters reported that the lawsuit details were unclear, saying the two companies had a confidentiality agreement.
On a statement posted on their website, Theranos said the company was “disappointed” that the drug store chain filed the suit. They added, “Through its mishandling of our partnership and now this lawsuit, Walgreens has caused Theranos and its investors significant harm.”
{{#rendered}} {{/rendered}}The company was founded by Elizabeth Holmes in 2003, after believing health information is one of the basic human rights.
“We will respond vigorously to Walgreens’ unfounded allegations, and will seek to hold Walgreens responsible for the damage it has caused to Theranos and its investors,” Theranos added.
Reuters also reported that Walgreens announced the termination of it’s business relationship with Theranos back in June. The termination was a result of its January decision to halt the laboratory testing services by Theranos.
{{#rendered}} {{/rendered}}Theranos was accused of inaccurate blood testing devices by the Wall Street Journal beginning in October 2015.