Orlando Breach of Contract Attorney Update – Walgreens v Theranos
Here’s an update for breach of contract attorneys in Orlando: Walgreen Co. sued Theranos, Inc. in Delaware federal court asking for $140 million damages. Walgreen’s breach of contract lawsuit was filed under seal, meaning the public cannot see the actual documents that have been filed. Only the docket entries are visible. Walgreen’s filed a motion to seal the record based on confidentiality and non-disclosure agreements that the parties have and the confidential nature of the business relationship.
Until late 2015, Theranos was a fast growing company with a unique business: blood testing using several drops of blood instead of several vials full. While things were going well, Walgreens and Theranos entered into a contract in which Theranos would open in-store blood testing services and a “wellness center.” Not long afterward, Theranos was hit with severe sanctions by Medicare and Medicaid for shoddy lab practices and poor quality control, as exposed in a Wall Street Journal article. Theranos’ business quickly dropped off and it became the target of a slew of lawsuits for breach of contract, fraud and other actions. Walgreens is seeking to recover the significant investments it made in its project with Theranos.
If you have questions for a breach of contract attorney in Orlando call the Spence Law Firm today!