#ElizabethHolmes trial day 19:
Rare rainy day in San Jose.
Today we are likely getting the former Pfizer director of diagnostics Shane Weber, who once evaluated Theranos' tech.
Prosecutors said they have "multiple" witnesses ready to go.
Rare rainy day in San Jose.
Today we are likely getting the former Pfizer director of diagnostics Shane Weber, who once evaluated Theranos' tech.
Prosecutors said they have "multiple" witnesses ready to go.
The government will call Brian Tolbert to testify today, Prosecutor Jeff Schenk said in pretrial arguments.
Unclear if he will be first, or Dr. Weber.
#ElizabethHolmes #Theranos
Unclear if he will be first, or Dr. Weber.
#ElizabethHolmes #Theranos
Bryan Tolbert*
His name was spelled wrong on the prosecution's witness list...
Tolbert is currently the VP of finance at the Hall Group
hallgroup.com/leadership/bry…
His name was spelled wrong on the prosecution's witness list...
Tolbert is currently the VP of finance at the Hall Group
hallgroup.com/leadership/bry…
Attorneys have argued over the admissibility of an internal report Dr. Weber drafted for several days now.
Judge just ruled he would allow the document to be marked as an exhibit and to be used as a "demonstrative," but would hold of on admitting as a formal exhibit.
Judge just ruled he would allow the document to be marked as an exhibit and to be used as a "demonstrative," but would hold of on admitting as a formal exhibit.
We're on break while the judge and attorneys discuss an undisclosed juror in issue in his chambers.
Court clerk Adriana Kratzmann just waved Defense attorney Kevin Downey and Prosecutor Jeff Schenk into Judge Davila's chambers.
They both carried notebooks as they went through the wooden door behind the judge's bench.
They both carried notebooks as they went through the wooden door behind the judge's bench.
Three minutes later, they return to the court room. Both are whispering with their teams.
Judge is still in his chambers.
Judge is still in his chambers.
14 jurors filed in (by my count) — seems as if we are missing one. #ElizabethHolmes
Juror # 5 has been excused.
"The court has found cause"
Alt juror #3 is now in.
"The court has found cause"
Alt juror #3 is now in.
Weber became familiar with #Theranos in 2008, while he worked as the director of diagnostics at Pfizer.
Prosecutor Robert Leach is on for direct. He began with a 10/11/2008 email from #ElizabethHolmes to Craig Lipset from Pfizer.
"I am very pleased to recent you with the final data-see the attached study report," Holmes wrote.
"I am very pleased to recent you with the final data-see the attached study report," Holmes wrote.
Aiden Power was also a recipient of Holmes' email.
"Prepared for Dr. Aiden Power," reads another #Theranos report published to the jury, which Holmes sent over to the pair, Weber testified.
"Prepared for Dr. Aiden Power," reads another #Theranos report published to the jury, which Holmes sent over to the pair, Weber testified.
"The #theranos system performed with superior performance to reference assays while running in a complex ambulatory environment," a conclusion read, in the report which was sent by Holmes to Pfizer.
The information was directed to Dr. Shane Weber — who would conduct a review.
Weber's role was to "move Pfizer's clinical programs forward," he testified.
Weber's role was to "move Pfizer's clinical programs forward," he testified.
On Nov 10. 2008 Weber wrote to #Theranos in regards to the report they had sent over
"I'm interested more broadly as to what the instrument is and planned to be ….not just in understanding the performance and utility of the Theranos system in the oncology study."
"I'm interested more broadly as to what the instrument is and planned to be ….not just in understanding the performance and utility of the Theranos system in the oncology study."
"I am responsible for platforms for which Pfizer has diagnostic interest," he continued.
Weber told Leach assays would need to be FDA approved for them to be approved in Pfizer's clinical trials.
Weber told Leach assays would need to be FDA approved for them to be approved in Pfizer's clinical trials.
Leach is asking Weber about language in #Theranos "Angiogenesis Study," which Holmes sent over to his Pfizer team.
He brings up the report's conclusions again highlighting,
"superior performance."
and "VEGF assay accuracy is good..."
"superior performance."
and "VEGF assay accuracy is good..."
Weber was sent an NDA by Gary Frenzel — the #Theranos scientist who he was corresponding back and forth with.
We are hearing about a one hour conference call Weber had with #ElizabethHolmes and 5-6 of her colleagues.
"It was entirely vocalized by Ms. Holmes," he said, clarifying with Leach that means she did all the talking.
"It was entirely vocalized by Ms. Holmes," he said, clarifying with Leach that means she did all the talking.
Weber's purpose was to get a "holistic understanding" of what #Theranos tech could do — not just of the study they had sent over.
He wanted to know if there could be a future between the two companies, collaborating on clinical trials.
He wanted to know if there could be a future between the two companies, collaborating on clinical trials.
Here comes the redacted internal document we have heard about at length during attorneys sidebars.
Title: "Diagnostics review of Theranos' Technology and Final Recommendations Shane Weber"
Date: 12/31/08
Title: "Diagnostics review of Theranos' Technology and Final Recommendations Shane Weber"
Date: 12/31/08
"The purpose of this review was to close the loop on all previous efforts for Theranos to look for business opportunities with Pfizer and to make final recommendations regarding potential future attempts for Theranos to engage dfft. parts of Pfizer in their platform," he wrote.
Weber's conclusions as Leach read to the jury:
"Theranos does not at this time have any diagnostic or clinical interest to Pfizer... It is recommended that no further financial investment or clinical sample resources be extended to #theranos," he wrote.
"Theranos does not at this time have any diagnostic or clinical interest to Pfizer... It is recommended that no further financial investment or clinical sample resources be extended to #theranos," he wrote.
"The world changes...a wait and watch approach seemed to be prudent," Weber testified.
Theranos should be monitored going forward, he wrote.
"A once every six month phone call (or as may be requested by #theranos upon a significant improvement to their platform)."
Theranos should be monitored going forward, he wrote.
"A once every six month phone call (or as may be requested by #theranos upon a significant improvement to their platform)."
"#Theranos verbally provided oblique, deflective or evasive non-informative answers to these technical due diligence questions below," Weber wrote.
The first question he referenced:
"For what medical need does theranos think the device platform will first be clinically used?"
The first question he referenced:
"For what medical need does theranos think the device platform will first be clinically used?"
In a Jan. 2009 email Weber wrote to his team about a conversation he had with #ElizabethHolmes.
"I was polite clear crisp and patiently firm as she pushed back. She asks for other names at Pfizer to approach and I politely deflected," he wrote.
“I did not want multiple other points of the company to be contacted and distracted from their clinical trial," he testified.
“I did not want multiple other points of the company to be contacted and distracted from their clinical trial," he testified.
On 4/14/2010 Holmes wrote to Walgreens.
"As per our discussion please find three due diligence reports..." she wrote.
Attached was a document with a Pfizer logo on the top left and a Theranos logo on the top right.
Titled: Theranos Angiogenesis Study Report
"As per our discussion please find three due diligence reports..." she wrote.
Attached was a document with a Pfizer logo on the top left and a Theranos logo on the top right.
Titled: Theranos Angiogenesis Study Report
It was similar to the report Theranos had sent over to Pfizer months before, Leach pointed out.
He pulled up that report and set it next to the one with a Pfizer trademark logo.
"Did you approve use of the Pfizer logo on the use of the document?"
"I did not" he said
He pulled up that report and set it next to the one with a Pfizer trademark logo.
"Did you approve use of the Pfizer logo on the use of the document?"
"I did not" he said
"Did you approve using the Pfizer logo on any iteration of the theranos angiogenesis report?" Leach asked
"I did not," he said, noting that would be the "purview" of Pfizer legal/trademark
"I did not," he said, noting that would be the "purview" of Pfizer legal/trademark
Would it be fair to say that before or after 2010 Pfizer endorsed theranos tech?
No
Would it be fair to say that before or after 2010 Pfizer comprehensively validated theranos’ technology
No
No
Would it be fair to say that before or after 2010 Pfizer comprehensively validated theranos’ technology
No
He then brought up a conclusion about "superior performance" on the report -- the same one we had seen on the Angiogenesis report initially sent over to Pfizer.
"Im not aware of anyone at Pfizer who agreed with this conclusion," Weber testified.
"Im not aware of anyone at Pfizer who agreed with this conclusion," Weber testified.
Leach has no further questions. we're on break. back for cross in 30 ish minutes.
#elizabethholmes #theranos
#elizabethholmes #theranos
We're back and defense attorney John Cline is on for cross.
"My name is John Cline and I'm a lawyer for Ms. Holmes," he said handing Weber a binder. "Is it fair to say that your involvement with theranos while you were at Pfizer spanned about three months?"
Nov 2008 -- Jan. 2009, the attorney and witness agreed.
Cline elicits that the diagnostic group was one of many groups within molecular medicine [at Pfizer].
Craig Lipset (who Theranos initially sent data over to) was one level above Dr. Weber on the corporate structure, Weber testified.
Weber had only been at Pfizer for around 5 months, he testified, at the time he came in contact with #Theranos in Nov. 2008.
It comes out that Pfizer had been working together with theranos for a couple years, and the oncology report we saw was worked on between the companies
It comes out that Pfizer had been working together with theranos for a couple years, and the oncology report we saw was worked on between the companies
You did not visit the theranos HQ or unit in CA?
No I did not
And you did not physically examine the theranos device correct?
no I did not
No I did not
And you did not physically examine the theranos device correct?
no I did not
Cline points to this line of Weber's report. The attorney confirmed with the witness that this was his understanding of Theranos's tech:
"Theranos systems purports to have a patient home use immunoassay in vitro diagnostic device platform."
"Theranos systems purports to have a patient home use immunoassay in vitro diagnostic device platform."
Cline's line on the internal report introduced on direct:
-You sent this report to your boss’s boss.
-You also sent it to Dr. Lipset.
-You did not sent this report to theranos
-You did not send this report to Elizabeth Holmes
-You sent this report to your boss’s boss.
-You also sent it to Dr. Lipset.
-You did not sent this report to theranos
-You did not send this report to Elizabeth Holmes
Cline brings up a Feb. 2020 in person meeting Dr. Weber had with prosecutors, federal agents in Pfizer's NYC offices.
He refreshed Weber on a statement he made, according to an intvw memorandum.
He refreshed Weber on a statement he made, according to an intvw memorandum.
Does this refresh your recollection that.... your
"final assessment was met with silence" (by Weber's three bosses/colleagues higher than him on the corporate chain)
It did.
"final assessment was met with silence" (by Weber's three bosses/colleagues higher than him on the corporate chain)
It did.
Cline pulled up the email Weber sent to his bosses — describing his manner as "polite, clear, crisp, and patiently firm as she pushed back., and suggested Pfizer circle back w/ Theranos in 6 months.
Cline elicited that this was a complete and accurate desc of his convo with EH
Cline elicited that this was a complete and accurate desc of his convo with EH
The email was on Jan 30. 2009.
"You didn't speak with [ElizabethHolmes] or see her again until you walked into this court?" Cline asked.
"Yes," Weber testified.
"You didn't speak with [ElizabethHolmes] or see her again until you walked into this court?" Cline asked.
"Yes," Weber testified.
Cline showed a Feb. 2009 email chain where Gary Frenzel asked Weber if Pfizer still had interest in moving forward.
"Pfizer has no interest in preeclampsia...Best of luck you are on to something good," Weber wrote back.
That was Weber's last contact w/ theranos, he said
"Pfizer has no interest in preeclampsia...Best of luck you are on to something good," Weber wrote back.
That was Weber's last contact w/ theranos, he said
Weber was not aware of any other contacts Pfizer had with Theranos after Jan. 2009. (Other than a "vague" recollection, as Cline elicited.
Here comes Leach for redirect.
Here comes Leach for redirect.
Leach addressed the statement Weber made to the government in Feb. 2020. about his report being "met with silence," as Cline had elicited on cross.
He asked if Weber was satisfied his bosses had agreed with his conclusions
"Yes," Weber replied.
He asked if Weber was satisfied his bosses had agreed with his conclusions
"Yes," Weber replied.
"They asked if there was anything else to be done, and they were silent and moved on," Weber testified, in regard to his bosses.
Weber is dismissed. The gov't called John Bryan Tolbert. He just took his oath, and his seat at the stand.
Tolbert has worked at "Hall Group" since 1999.
He testified his group made an around $5 million investment in Theranos — I missed the year
He testified his group made an around $5 million investment in Theranos — I missed the year
The main business of Hall Group is investing in real estate, and making construction loans.
Not investing in private companies, Prosecutor Jeff Schenk elicited.
Not investing in private companies, Prosecutor Jeff Schenk elicited.
In fall 2006, Tolbert was tasked by his boss Craig Hall with conducting due diligence on a possible Theranos investment.
His first move was to "do a Google search"
He couldn't find much online, so he set up a series of phone calls with #ElizabethHolmes to inquire further
His first move was to "do a Google search"
He couldn't find much online, so he set up a series of phone calls with #ElizabethHolmes to inquire further
Tolbert testified the Hall Group also made an investment in Theranos in 2006 through another investor.
In 2013 they invested again, this time directly.
"Our preference was to invest directly in #Theranos."
In 2013 they invested again, this time directly.
"Our preference was to invest directly in #Theranos."
The Hall Group invested in Theranos in 2006 through "Black Diamond Ventures," owned by Chris Lucas.
We looked at Oct. 2006 notes form a conference call Tolbert participated on with Elizabeth Holmes and Black Diamond Ventures.
"Expect IPO to be valued around $1 billion," the notes indicated. Which was "anticipated" by 1Q 2008.
Tolbert testified he got this info on the call
"Expect IPO to be valued around $1 billion," the notes indicated. Which was "anticipated" by 1Q 2008.
Tolbert testified he got this info on the call
Schenk asked him what his understanding of #Theranos tech was at this time.
“Certainly, my understanding was that it worked at this time…my expectation was that [the device] would continue to advance, and get more robust over time," Tolbert testified.
“Certainly, my understanding was that it worked at this time…my expectation was that [the device] would continue to advance, and get more robust over time," Tolbert testified.
"There was at this time a functioning product," he figured.
Before the Hall Group invested $2 million in #Theranos in 2006, Tolbert went out to dinner with Don Lucas Chris Lucas and Elizabeth Holmes.
"I came away with a much better understand of what [the tech] would do…and where it would go," he said.
"I came away with a much better understand of what [the tech] would do…and where it would go," he said.
Tolbert also visited #Theranos. He was sent home with an Theranos device cartridge, he testified.
"At some point I saw something that would be related to the device," he said, at the facility. But Tolbert. couldn't remember specifically.
"At some point I saw something that would be related to the device," he said, at the facility. But Tolbert. couldn't remember specifically.
Not much existed about #Theranos in the public space after the Hall Group's initial 2006 investment. That actually "encouraged" Tolbert, he testified.
"It did feel like a revolutionary technology. You wanted to preserve an advantage," he told Schenk.
#ElizabethHolmes
"It did feel like a revolutionary technology. You wanted to preserve an advantage," he told Schenk.
#ElizabethHolmes
On July 29, 2013 Chris Lucas emailed Tolbert an update: Theranos had launched a new website.
"#ElizabethHolmes is clearly assembling an impressive group," Lucas wrote. "Hopefully this also means that we will start receiving more communication from the company."
"#ElizabethHolmes is clearly assembling an impressive group," Lucas wrote. "Hopefully this also means that we will start receiving more communication from the company."
Tolbert testified he and Lucas at the time, "Wanted more financial information. More visibility..." from Theranos.
they were hopeful they would get it.
they were hopeful they would get it.
We looked at a July 2013 shareholder letter #Theranos sent to investors.
Schenk highlighted in the letter a mention of a "launch" and of "stealth mode"
Tolbert understood the latter to mean, "[they were] trying to work below the radar" as to not lose a "competitive advantage."
Schenk highlighted in the letter a mention of a "launch" and of "stealth mode"
Tolbert understood the latter to mean, "[they were] trying to work below the radar" as to not lose a "competitive advantage."
The letter also mentioned Gen. James Mattis was a member on the board.
Leach showed us a set of Nov. 2013 screen grabs from the #Theranos website, and asked if some of their assertions were consistent with what Tolbert knew of the tech — of what Holmes had told him.
On Dec. 31 2013 Tolbert and the Hall group bought $5 million of Theranos stock worth $75/share
In 2006 they had bought $2 million for just $3/share
In 2006 they had bought $2 million for just $3/share
He testified the "window closed" for the investment at that price, on Dec. 31 so they had to make the quick decision.
Leading up the investment, Tolbert had a phone call with #ElizabethHolmes. He recorded the phone call.
"We had some frustration that we hadn’t through those years had the kind of financial info that we would have had from a normal investment," he testified.
"We had some frustration that we hadn’t through those years had the kind of financial info that we would have had from a normal investment," he testified.
We're about to hear clips from the phone call. #ElizabethHolmes
We just listened to the first clip, the first time the jury has heard #ElizabethHolmes voice in this trial.
The audio in the overflow room malfunctioned (I'm in the court room) and so we are taking another 30-minute break
More phone call clips when we return.
#ElizabethHolmes
The audio in the overflow room malfunctioned (I'm in the court room) and so we are taking another 30-minute break
More phone call clips when we return.
#ElizabethHolmes
We're back — break ran short for the first time that I can remember.
Schenk asked Tolbert if he made any conclusions about the current capabilities of the Theranos technology as a result of the first clip played (from 2013).
"My understanding was that the tech -- they had perfected it or approved it and made lots of advances," he testified
"My understanding was that the tech -- they had perfected it or approved it and made lots of advances," he testified
Schenk asked if it was "important to [his] decision to invest," on behalf of Hall Group in 2013.
"We don’t suffer the rate of decay of key analytes that happen when you ship samples off to a lab," Holmes told Tolbert on the call, as Schenk highlighted.
"It felt like it would be a big advantage to be able to do that testing in house - or on site,” Tolbert testified.
"It felt like it would be a big advantage to be able to do that testing in house - or on site,” Tolbert testified.
The second phone call:
"We are operating now in CA and in Arizona. We have opened our first stores and have patients that are coming in live every day," Holmes said on the call.
"We are operating now in CA and in Arizona. We have opened our first stores and have patients that are coming in live every day," Holmes said on the call.
"The speed at which we expand is critical ….we are putting a lot of resources into establishing a national footprint as fast we can," #ElizabethHolmes continued.
"As we do that we are focused in leveraging capital from strategic partners."
"As we do that we are focused in leveraging capital from strategic partners."
Tolbert testified it sounded like "the point of raising this money was to be able to accelerate that deployment."
Not, he noted, to raise money to "perfect the [#Theranos] technology."
#ElizabethHolmes
Not, he noted, to raise money to "perfect the [#Theranos] technology."
#ElizabethHolmes
Keep in mind this call occurred in Dec. 2013.
Months after the Walgreens launch.
Months after the Walgreens launch.
"Now the valuation of the company is over $7 billion…the retail is exactly where we are focusing our investment. It really is a question now of how fast we will scale," Elizabeth Holmes said, in response to a question from Craig Hall — who was also on the call.
Schenk asked Tolbert what he understood that to mean
"It felt like it was going to happen, it was just a question of how fast," he testified. "Certainly if we thought those [8,000] locations would not have become operational it would've become a big negative for the investment."
"It felt like it was going to happen, it was just a question of how fast," he testified. "Certainly if we thought those [8,000] locations would not have become operational it would've become a big negative for the investment."
"Military is a big deal for us," Holmes said on the call. "I can tell u confidentially a couple of the areas we’ve been focused on there."
Holmes cont:
"One in the context of work in the Middle East and specifically in Afghanistan...The ability to take technology like this, and put it in place specifically on a medevac has a chance to change survival rate...We’ve been doing a lot of work there."
"One in the context of work in the Middle East and specifically in Afghanistan...The ability to take technology like this, and put it in place specifically on a medevac has a chance to change survival rate...We’ve been doing a lot of work there."
She also said, "We are looking at liquid options and an IPO is one of them."
"We are changing the cost structure of laboratory testing," Holmes told the investors.
"Because we’ve made it possible to run any combination of lab test from these tiny samples…" was one quote from Elizabeth's answer, that Schenk highlighted.
"I took it at face value, that there was an opportunity out of a finger stick of blood to run multiple tests" - Tolbert
"I took it at face value, that there was an opportunity out of a finger stick of blood to run multiple tests" - Tolbert
Holmes said on the call her comments about the military were "confidential." Schenk asked Tolbert what he thought that meant.
"That this is info that wasn’t public... but it represented capabilities that Theranos...had developed and were operational at that point."
"That this is info that wasn’t public... but it represented capabilities that Theranos...had developed and were operational at that point."
"This call was central to our decision to invest further funds," Tolbert testified.
#ElizabethHolmes #Theranos
#ElizabethHolmes #Theranos
We are now looking at the stock purchase agreement, which Tolbert testified occurred following the call.
Schenk fronted the language which referenced the risks of the investment.
Tolbert testified inaccurate statements from Holmes, were not among the risks he understood.
Schenk fronted the language which referenced the risks of the investment.
Tolbert testified inaccurate statements from Holmes, were not among the risks he understood.
Schenk pulled up one of the six wire transfers admitted into evidence through the federal reserve witness, earlier in trial.
4,875,000 is the amt.
"That's the amount we sent [Theranos]," Tolbert testified.
The 125k difference would be paid to Chris Lucas as a commission.
4,875,000 is the amt.
"That's the amount we sent [Theranos]," Tolbert testified.
The 125k difference would be paid to Chris Lucas as a commission.
It was ultimately Tolbert's decision to send the $5 million investment, he testified.
Downey will cross after a brief stretch break.
#ElizabethHolmes
Downey will cross after a brief stretch break.
#ElizabethHolmes
"Good afternoon Mr. Tolbert," Downey began.
Downey is questioning Tolbert about his intro to #Theranos.
"The content of any convo with Mr. Hall and with Mr. Lucas you are personally not aware of?"
"No I am not."
"The content of any convo with Mr. Hall and with Mr. Lucas you are personally not aware of?"
"No I am not."
You had at least 1-2 phone calls with Mr. Lucas before you went to theranos?
... either ms Holmes was on one or two of those calls correct?
...Then you had the dinner you described (with the Lucases and Holmes.)
did you at that dinner ask info from all three about Theranos?
... either ms Holmes was on one or two of those calls correct?
...Then you had the dinner you described (with the Lucases and Holmes.)
did you at that dinner ask info from all three about Theranos?
For 6 years you never had any direct contact with ms holmes
Then you had the phone call
Then you made your second investment in theranos
So the only contacts you had with ms holmes during 7 years were those limited occasions?
Then you had the phone call
Then you made your second investment in theranos
So the only contacts you had with ms holmes during 7 years were those limited occasions?
Downey's line surrounds Tolbert's limited interaction with Theranos / Holmes, and the information he got from Don and Chris Lucas about Theranos
Downey elicited from Tolbert that on the Dec. 2013 call, Holmes "told [investors] that in fact theranos was going to pause its work on [military and Pharma] business in order to focus on the retail business rollout," he asked.
"I do remember that reference," Tolbert said.
"I do remember that reference," Tolbert said.
Regarding the retail rollout, Tolbert testified:
"That was the central focus of what the additional investment opportunity would be about."
"That was the central focus of what the additional investment opportunity would be about."
Downey and Schenk are comparing transcripts for the phone call.
The defense attorney is about a half-head taller than the prosecutor.
The defense attorney is about a half-head taller than the prosecutor.
"We had to pause a large number of our ongoing Pharma and military programs so we could focus later on this...," Holmes said on the call.
"It didn't sound like it was a complete pause. But no I did not follow up with any specific questions on that," the witness testified.
"It didn't sound like it was a complete pause. But no I did not follow up with any specific questions on that," the witness testified.
"Did you follow up after the call to ask for any contracts between theranos and the military?" Downey asked.
"I did not," Tolbert testified, also admitting he didn't ask any questions on the call.
#ElizabethHolmes
"I did not," Tolbert testified, also admitting he didn't ask any questions on the call.
#ElizabethHolmes
Tolbert testified at that 2013 time he believed the Theranos tech could conduct "thousands of tests."
Did ms holmes make reference in the recording we just heard to thousands of tests
She did not
Did ms holmes make reference in the recording we just heard to thousands of tests
She did not
Downey asked if around that time Holmes had made representations that her tech could conduct thousands of tests.
"Not on that call," the witness replied.
"Not on that call," the witness replied.
Schenk objected to another portion of the call Downey started to play.
"Its part of same recording," Downey told the judge. "This is just a segment we wish to play for the benefit of the jury."
"Its part of same recording," Downey told the judge. "This is just a segment we wish to play for the benefit of the jury."
"It's an exchange that completes the call, and purports to explain portions of the call...which ms holmes previously participated," downey argued to Judge Davila.
Downey and Davila are still having a back and forth over the recording.
"I'm not trying to give you trouble here," the judge said. "I'll allow this to be played."
"I'm not trying to give you trouble here," the judge said. "I'll allow this to be played."
"I'm confused a little bit on the share pricing..." Craig Hall said, and continued to ask a question.
Chris Lucas answered the question.
Downey asked if Hall asked any questions of Lucas about Pharma/Military bits mentioned by Holmes
"not in that exchange," he said to both
Chris Lucas answered the question.
Downey asked if Hall asked any questions of Lucas about Pharma/Military bits mentioned by Holmes
"not in that exchange," he said to both
The witness testified he had multiple phone calls with Lucas between Dec. 20 and Dec. 31 (the time between the call w/ holmes and the investment.
"My understanding [from Lucas]... was the company was making great progress," he said.
"My understanding [from Lucas]... was the company was making great progress," he said.
It came out that in 2015 Tolbert had his blood tested at Walgreens, and he was informed one of the tests would need to be a venous draw. He was shocked, he told Downey.
But Tolbert never called Mr. Holmes or anyone else at #Theranos about it, Downey elicited.
But Tolbert never called Mr. Holmes or anyone else at #Theranos about it, Downey elicited.
We are going until approx 4:45 P.T this afternoon. The judge thanked the jury for obliging, as Tolbert is an out of town witness.
"Your honor can I say thank you as well," Tolbert quipped.
#ElizabethHolmes #Theranos
"Your honor can I say thank you as well," Tolbert quipped.
#ElizabethHolmes #Theranos
Tolbert regarded Theranos retail rollouts as "the primary opportunity of the moment."
Downey ended his cross, after going through the areas which Tolbert testified played a part in his decision to invest
Of them - having a board with "well regarded" people. Walgreens' entrance into the retail agreement, and others.
Of them - having a board with "well regarded" people. Walgreens' entrance into the retail agreement, and others.
He also got Tolbert to testify he was satisfied with the info he had prior to making an investment.
Schenk came back for a few Q's - Tolbert testified he thought Theranos had ongoing pharma and military projects, from what Holmes had said on the Dec 20. Call.
Downey on recross highlighted the portion of the call where:
Mr hall asked what is the purpose of these investments
Ms holmes answered by describing development that would take place between retail projects w/ theranos
Mr hall asked what is the purpose of these investments
Ms holmes answered by describing development that would take place between retail projects w/ theranos
Judge asked jurors if they could add Mondays going forward. We'll find out.
Back next week.
Back next week.
But not next Monday, Cline clarified. Back Tuesday for #elizabethholmes trial day 20
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