Court Unanimously Denies Theranos Founder Elizabeth Holmes' Request For Rehearing

Elizabeth Holmes has been denied a rehearing by the 9th Circuit Court of Appeals, leaving the U.S. Supreme Court as her last option. Holmes and former Theranos executive Sunny Balwani are liable for $452 million in restitution. Holmes is currently serving an 11-year sentence for her 2022 fraud conviction. The 9th Circuit U.S. Court of Appeals denied Holmes' request for a rehearing before the original three-judge that upheld her conviction. No judge on the circuit court asked for a vote on whether to have the full court rehear the appeal. Holmes was sentenced in January 2023 to 11 years and 3 months in prison after being found guilty of four counts of wire fraud in January 2022. She was found guilty of deceiving investors about the capabilities of Theranos, the blood-testing company she founded in 2003. The company shut down in 2018 after a Wall Street Journal story outlined the firm's struggles. Holmes' conviction stems from her deception of investors about Theranos' capabilities.