Monday, November 21, 2016

"Litigator David Boies and the law firm he founded, Boies, Schiller & Flexner LLP, have stopped doing legal work for Theranos Inc. after disagreeing about the strategy"

Mr. Boies’s first assignment for Theranos was a patent lawsuit against a childhood neighbor of Ms. Holmes, who also is the company’s chief executive. The case was settled in early 2014, and Mr. Boies moved into an advisory role at Theranos.

The law firm was paid in Theranos stock for its work on the patent case, according to a person familiar with the matter. Boies Schiller was granted more than 300,000 shares valued at $4.5 million, based on a valuation of $15 a share at the time, this person said.