Theranos founder Elizabeth Holmes banned from operating labs

Elizabeth Holmes, the founder of blood-testing company Theranos, has been banned from operating labs in the US for two years, the Silicon Valley company announced in a press release. Thernaos has been fined an undisclosed amount of money. The announcement is vindication for The Wall Street Journal, which first reported on irregularities at the company eight months ago.

Theranos has also had its Newark lab's certification revokedThe sanctions also included revoking Theranos's Newark, California lab's certification under the relevant regulation (called CLIA), a correction plan, a suspension of any payments from Medicare or Medicaid, and the cancellation of any payments from those agencies. The Newark, California lab's certification will...