« The Dropout

The Investors

2021-11-02

This week, we hear from high-profile companies and individuals who invested millions of dollars into Theranos, the prosecution reiterating that these investments were made on the basis of what they say was a pattern of misinformation, exaggeration and outright lies coming from Elizabeth Holmes herself. And we hear from a Pfizer scientist who speaks to the supposedly doctored Pfizer document that Theranos showed investors to help lure them in.  

This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Last week on the drop out. We got a peak into how things at Baroness could be at times a full on family affair, when Elizabeth recruited, her brother, Christian and five of his fraternity bodies to join her at the company. Came to be known as the fair arose, worthy the college. Did you ever see? Now you came to the company because you knew christian homes, who is your fraternity brother, at due and there was more drama from the jury poor when a third you're was dismissed this time for repeatedly playing the puzzle, game pseudo could, during witness testimony display we three jurors, dismissed it extremely troubling. It brings one step closer to a potential Miss trial in this case, which would be devastating for the government. This week we hear from high profile companies and individuals who invested millions of dollars into their knows that,
the reiterating that these investments for made on the basis of what they say was a pattern of misinformation. Exaggeration and outright lies coming from Elizabeth, herself, I think it a huge deal to transition from rosy forecasts to law is about what you can do, and we hear from a Pfizer scientists to speaks to this supposedly doktor document that there are no showed these investors and others to lure them in
when you see and actual doktor document with your own two eyes, I mean that's almost impossible to rebut, and so this was a huge moment for the government from any see audio guess. If the driver Elizabeth HOMES on trial, Rebecca Jarvis is out again, fight will be back for the next episode. Until then, I'm Elizabeth Shoals filling in to tell you the latest and what the drop out teens uncovered. Here's episode. Eleven the invest that's wonderful about to be an employee. We, which do it
about the on December twenty twenty thirteen Brian toll Bird, the vice president of finance, for an investment firm called the hall group, was sitting in Fiscal taxes are slipping to Elizabeth HOMES, host and investor conference. Call you all know. We have been working very hard for a long time to build up this infrastructure that could in fact make it to get rid of the back to the boy drawn from the r who had recorded the call sing he typed slowly and wanted an accurate record and when prosecutors it out loud in court during tolerates testimony it caused quite a stir. It was
very first time any one in the courtroom had actually heard Elizabeth Voice. During the course of this trial, tollbooths company had invested two million dollars in the blood testing start out back in two thousand six, just three years after its launch on a tip from Chris Lucas nephew of Ben Baroness Board Chair Don Lucas, the hall. Mainly invested in real estate, but thought this was an exciting opportunity. There knows touted attractive contracts and fancy financial projections and the whole group they'd be lucky to get in early in the seven years between the initial investment in this call, communication would be sporadic but told her said he in the hall, chalk that up to their nose working hard on its technology and making good on its lofty promises. After their highly publicize partnership with Walgreens Tolerant, said, Elizabeth and Baroness were finally becoming more communicative, with shareholders now Toby in the Hall
group or debating whether and to invest more, they had eleven days until December thirty. First, twenty thirteen to make the decision Alice in her signature. Baritone was making old claims on this investor call an torbert liked, He was hearing I thought of the company. We knew that it would take us a long time to be able to establish an infrastructure that could kill anyone that it was a traditional were from a micro, stable or a tiny prob that we take now from the finger prosecutor, Jeffrey Schenk, asked based on the report in just played. Did you draw any conclusions about the current capabilities of that? There are no technology. Yes, Toby testified
based on Elizabeth statements. He said he understood that Baroness had perfected its technology over the past seven years and had made lots of advances from being able to do some tests, as he'd originally seem to now being able to do lots and lots of tests on the same drop of blood was that represented an important to you and your decision to reinvest in twenty thirteen shank asked it was replied Torbert, because if they had, seven years working on building a device, and they couldn't do any more tests than they did seven years prior than it would have been. Concerning tolerance he took a lizard statements at face value, leaving her when she said, Baroness machines could now run any lab test from a micro sample As we now know, it could never run any more than twelve tests on its proprietary technology, and often several of those tests would produce inaccurate results. I told her said. He didn't know that remember.
This was December of twenty thirteen after they are known was already live inside of some Walgreens Torbert believed him. had already made good on the promise as she was making on the call. In reality, instead of using that famous anger, stick of blood, their nose was running the majority of their Walgreens tests. The Venus straw and in processing the tests on site, as she'd also promised on the call their nose was shipping all task to a central laboratory miles away again. Torbert said He didn't know this and when Elizabeth talked about scaling to thousands of other stores under these premises, it wasn't digging their pay all require focusing our about man. That's the real scale is a given. The goal is to be able to pay bash, nor very very quickly
Certainly, if we had thought that those locations would not become operational, it would have been a big negative for the investment Colbert testified. On the CALL Elizabeth moved on to her usual bold claims about her suppose it contracts with the military military. It is a big deal and I can tell you that I have a couple of years and what is their one contact of work in the middle way between the end of the day or go out with you like best and put it in plain the difficulty on better back as the actual change revival rig, we all go
even though I weren't written by a range of command in the contacts division than remote area. Hallucinates military claims had perhaps never been heard so boldly stated in her own voice. Until this call was played in court, Toby testified TAT Stan Elizabeth statements. He believed the technology was operational at that point and that their nose devices had already been used in Afghanistan. These were not just projections about what they hoped would happen in the future? As we often heard argued by the defence and the claims resonated personally with torbert. He told the court either. Brother, who is in the Marines and heated a torrent Afghanistan. So the thought that there was an Let each do everything that we could to help our service men and women. If they got hurt, was huge and it. A central role in his decision to further in vast justice,
eleven day. Investment window was closing on New year's eve. Twenty thirteen Colbert sealed the deal the hall Group would why Five million dollars to era knows that day over all white collar. Events attorney Caroline police. He thought the call with Elizabeth untold birds testimony about it played well for the poor Situation, this is a huge deal. For the government and, frankly, I think it's a break in the case. You can hear evidence days on days of evidence, a jerk and taken facts, but there's just no substitute for actually hearing Elizabeth homes as voice on that tape. Recording it's in actively powerful and to hear her make this statements. Herself is just going to be that much more persuasive in terms of getting over the goal line for the government.
During cross examination, Kevin Downy, immediately tried to discredit torpor, sing. He done little actual due diligence on their nose before investing millions and thirdly, relied on the opinions of others when making determinations down. He pointed out that albert had few communications directly with Elizabeth herself between the initial investment in two thousand sex and the second one or two thousand thirteen. Did you at any time try to contact Ms harms, during that period, not directly to my a collection, Colbert replied when it communicating about their house in that period it was as previously stated with his liaison Chris Lucas, the nephew fairness for chair and legendary investor Don Lucas, I would probably talk to him. Your four times a year. Colbert said when
If the connection to DAWN Lucas, who had once back to legendary Oracle founder Larry, Alison swayed his decision, Toolbar replied. It had county point out that, in addition to wing and Don Lucas's endorsement of fairness, Torbert had been swayed by the fact that other powerful Baroness board members had believed in Elizabeth General James, mattress and former, whilst Fargo Seo Robert Colossus edge safe to say that, recognising that they had a board with people who are well regarded influence to you in connection with making your twenty thirteen investment county asked certainly would have been a positive, not a negative Tolbert replied people use the transitive property of quality or something if acts likes it, and why likes it? In Z, says it's good, then it must be ok, but I don't know it's up to. You
go lemming effect, but it way easier to feel like you are consensus in something then being non consensus. better and venture Capital investor Brian Roberts. He says investors like Toolbar, relied too heavily on the endorsement of others, something he says. Traditional venture capital firms are less likely to do people, Fair would have been onto this. I think that Certainly the Sarah knows team were deliberate in their choices about who they solicited capital from and they went to non traditional sources of capital who very arguably have less context and spend less time deeply enmeshed in industry, Robert,
the partner and Ben Rock one of the top help Karen Tech venture capital firms in the country and has spent twenty five years investing in health care companies. He says it's unfair them. all that an investor wooden back up endorsements like this. With actual due diligence, it feels like nobody who invested. The really hard work digging probing going against the grain to try and figure out what was the actual with an probability and status of stuff Robert he had heard about fairness. When the company was fund. Raising his firm was never He says because of its background as a traditional technology in healthcare investment firm. I do remember the first time I heard about a company called. There knows it was after they raised their first, big round and made some noise about it. The company felt like a very hard business to make work
it was trying to innovate in modesty diagnostic testing, which was very concentrated in a couple of different vendors LAB Corp Quest and really required a lot of bricks and mortar blue draw, etc. They give the like a Harvard business to me, but it certainly was one where men times over a three or four year period. Somebody up to me and say o Brien you're, a good healthcare investor. Are you vested in their nose, and I go no and they say oh, oh well, I thought you were good healthcare investor, maybe not so much Robert stuck to his guns, but others like Torbert were not so sceptical and in the examination, defence attorney downy continually pointed out tollbooths lack of due diligence after he had been on that invest. Her call with Elizabeth. Did you follow up?
to the call to ask to see any contracts or other agreements between Baroness in the military he asked. I did not Tolbert replied follow up afterwards to see new contracts or other arrangements that were in place with pharmaceutical companies or ask about any of the contracts at their nose had in place with retailers down. He asked I did not toolbar replied again overall attorney Caroline police. He feels a lack of due diligence won't get Elizabeth homes off the hook. It gets proven she intentionally defrauded investors She says relying too much on this point could actually hurt the defence down the line, even though that may be sort of a compelling argument, logically, its not in any way shape or form a compelling legal argument. The crime of fraud has nothing to You were in a whether or not investors ultimately invest or
or how much diligence did, it simply is irrelevant so little. a shame on you, defence, which isn't going to cut a minute it's time to actually making closing arguments, because it's not actually a viable legal argument and the judge is not going to let it in legal. offence or not. Venture capitalist frying Roberts thinks in the end, both the hall Group and Elizabeth came out badly. I am, My opinion, all of those investors, should have done a lot more work to uncover the fact that they were being lied to. But I don't think it's ok to take sort of buyer beware thesis to the EAST dream of I'm Why do you? And if you don't catch me in the lie, then it's ok. I think both sides of this story get ass. right, you should lie and you shouldn't
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I wonder, if you're looking for a daily recap at today's news, including updates on the Elizabeth HOMES trial, join me over on start here, the daily podcast from ABC News again that start here available wherever you listen O Brien Colbert in the hall group may not be familiar to you, the name Patsy divorce. Probably is she was president Secretary of Education or twenty seventeen to twenty twenty one and the richest member of his cabinet. Forbes s, Made her immediate families net worth to be roughly two billion dollars. Please join me in welcoming Madam Secretary Betsy Divorce to the podium. It's really a pleasure to be here with you, the south noon. The government introduced as its next witness LISA Peter said, a private equity manager for the divorce family office. With her help the family would come make a walking one hundred million dollar investment in their nose. Based on what
government stated where many of the same highly misleading claims about the technology that were given to Brian Colbert, Peters and first, about their knows from her boss, Jerry to burden the ceo of the divorce family office. He met Elizabeth at a conference, in September of twenty fourteen, as Elizabeth recalled in her twenty seventeen Assisi deposition of asking, how did you know them I met them, adds a conference were family, controlled companies and title revision remain contact. I'm initially it was jury to burden. Now it's LISA Petersen, fiercely Pearson. She's emotion, is one of their fund managers and Jerry to organise
It was after the conference to bargain emailed Peter Sin and a number of the family members from the investment committee saying this morning. I had one of the most interesting meetings. I can recall with the woman profile in the attached Fortune magazine article. This was, of course, the article by Roger our that included false and misleading information about their nose, which had come to redirect later in a follow up. Peace Harleigh spoke to the door about team foresees and one person I spoke to at that time said you don't have to change a thing everything's, just exactly right. The way it is and then the ie is alleged that they also included in these bundles what they gave to investors. But since then I ve gone back and looked at some other stuff, and I think I ask the right questions. I just got the wrong end. Prosecutor Lee tread a portion of the article four, the court up at the top. It says aeronauts task in
performed on just a few drops of blood. He asked Petersen was of interest to you very Petersen. Replied why because no one had been able to do that before she said attorney Caroline police. He says the inclusion of articles like this one hurts the defences case. The argument that the government is making is that look. She was essentially passing off the in a very flattering media articles. As you know, affirmative statements about what the company could do that This point the government saying we understand that a lot of what was contained in those articles was in fact, not true, and so the fact that she was sending them to investors. You know the government is arguing, goes to just the level of deception that issue
engaging in upon hearing promises, like the ones in the article Petersen testified she felt an immediate personal connection to their noses work, because her husband is a type one diabetic who had his blood drawn frequently technology like this would be revolutionary. She, He came the main contact with their nose and says she began doing due diligence, communicating with Elizabeth herself There are no centre. Some materials to review Petersen was excited about what she saw and set up a phone call with Elizabeth on October. Third, twenty fourteen Peterson ass to find that Elizabeth position. This call not just as an opportunity for her to sell them on her technology, but for Elizabeth to determine whether I would be the right fit for therein house almost like, audition. The situation was characterized that she was kind of hand. Picking Iver, six private families to invest in her company Petersen testified.
So it was very much characterize that she was inviting us to participate in this opportunity. Elizabeth, ass to fight about the types of investors she was looking for in our twenty seventeen as easy deposition, the divorce family fit the bill. We're looking for family. on businesses or family, controlled companies and leadership who wanted. Investing something for the really long term. We identified a group of people to try to bring him police. He says this was a deliberate tactic. She sort of portrayed these investors. As you know, you should be so lucky. We have so many people that want to invest in our lining up that you were giving the sort of inside track here and you should take it and run with it. It did create this level of Foma amongst investors,
after the phone CALL Petersen put together a thorough memo of things that had been presented to her and the call in the binder is that their nose had sent to them at this point to do it. any other source of information from their nose. Besides Miss homes, Leech asked the phone call for me. Homes in the binders were the two things she was making her determinations on as well as what could find on the internet. She said leech began to read them the claims that were given to the divorce family in the binders, instead of of blood. Baroness requires only a pinprick and a drop of blood to perform hundreds of tests from standard cholesterol checks to sophisticated genetic analyses. One of the dock it's red. It then, as the results are faster, more accurate and far cheaper than conventional methods recall? This was after Walgreens Lodge and after their nose lawyers had flag. This type of language as problematic Petersen testified that these points,
for relevant because it showed that this was going to be a game changer for health care and like Torbert, there were claims about there. Knows being comprehensively validated by ten of the top fifteen pharmaceutical companies include in the binder was a report supposedly from Pfizer with what the prosecution alleged was a Pfizer logo to do. You believe that this report was prepared by Pfizer Leech asked yes, Petersen replied: why did you believe that, because the logo was on it Petersen testing that. The alleged Pfizer document was very relevant to their decision to invest in terror knows because it validated everything that she was telling us about being voted by a large external, independent third party edition. We, the binder, included those claims we heard about the military Petersen test. It
that they were shown document saying that there are no technology was being used in a military evacuation helicopter on ships and in refugee camps. It was some Petersen testified was critical to their understanding of the investment. The fact that it do this and that it was poured a ball was very game changing for the industry. She testified, of course, Elizabeth her self admitted it wasn't being used in those capacities and her twenty. Seventeen, as he sees her position, was, as there is now a factor device ever deployed. The battlefield was ever flayed men about after after their family received the materials Petersen, her boss in three members of the divorce family, flew out to California, to Baroness headquarters to meet with Elizabeth and former CEO O Sunny Boy Ahwahnee in person Petersen Testify They saw the thoroughness analyzer and wanted
devices had her blood drawn. She asked testified. They didn't see any third party devices, production facilities or the clinical lab, but Peters and said They talked at length with Elizabeth and Sunny and everything looked very favourable to divorce group, convened for the four or five hour meeting and made a big decision according to Peter said, when we to that meeting. The thought was to do fifty million dollars. Potentially that's what we were looking at Petersen testified. in the meeting Elizabeth and Sunny said. Other investors were coming in, for one hundred million eaters and said only determined one hundred might be a better number for us to do an easy bright Robert says this thinking is not at all unusual with big time investors. I think that the
FEAR of missing out is endemic in our species to some degree or another, especially in uncertain likelihood, high turn possibilities I have seen he owes teams trying to an often successfully creating the impression of time pressure, scarcity around a financing which that's part of their job, just like part of the investors job is to do their work and their diligence on whether they want to invest. After this mammoth one hundred million dollar investment in twenty fourteen negative press about thereunto started started barreling it Elizabeth on offensive prosecution played a clay for appearing on mad money, with Jim Kramer, doubling down on claims about the company's technology. How many tests
your device Edison, do every test we offer our laboratory can run on our proprietary devices we bring tat later. On the today Show Rapporteur, Maria Shriver asked about accusations that therein knows had violated lab regulations. Elizabeth, in contrast to what Her defence team has appeared to have been arguing throughout the trial, took all responsibility. The prosecution played this clip as well. I feel devastated that we did not catch and fix these issues faster. You hold yourself responsible for hiring the wrong people, not doing the proper oversight, not giving the proper controls, and what are you hold yourself responsible for the founder and seal of this company? Anything that happens in this company is my responsibility. At the end of the day
only eleven days after this segment aired Petersen in her boss, Jerry to Bergen took a trip to Palo Alto to meet Elizabeth again. It was the first time Peters says they were able to talk to Elizabeth in person since making their investment in twenty fourteen, and in contrast, taking responsibility for the severity of the violations on television. Peters and says that Elizabeth trivialize, the incident did she say that in substance that in reality, aeronauts didn't feel the issues are major prosecutor each asked Correct, said: Peterson Elizabeth very much downplayed what has been happening in the press? Leech concluded direct examination there.
the cross examination defence attorney. Lance Wade came out strong continuously, trying to discredit Peterson's testimony. I saying she had repeatedly failed to do due diligence on their nose prior to recommending the divorce family offices. Investment wait addressed the Doktor Pfizer report He asked of Peters and knew the contents of it. What was this the study that was done by Pfizer. He asked- I don't recall she said you recall the actual work that was done with Pfizer by the company, no the specific tasks that were run. No. Do you Anything about that study not today no then asked about her due diligence on Walgreens Ash, ever visited a Walgreens Whileness centre. No, she admitted had She ever looked on Walgreens website during rain or not research. She couldn't recall
she ever seen the disclaimer on their noses website about occasionally using Venus draws. I don't recall ever seeing that no she said the idea is just a completely. Three, her credibility to get to really look silly in the eyes of the jury. Any points you can get in terms of the debate in terms of showing that the witness wasn't doing her job early or anything that sort of makes her demeanour in the eyes of the jury, can be seen us the sort of a win for the defence as Wade continued to press Petersen shared that her boss advised or not reach out to her contact from Walgreens. This was lost. Lee an invitation, only situation, she told the cord and she said that they felt they circumvented the process. It would be uninvited to participate in the opportunity we were very careful not to circumvent things and upset Elizabeth. She said ensure Capitalist Brian Robert
said they should have been a red flag. Any YO, who doesn't want you checking being engaged in the business like? I don't know why you want to be in business with them. If someone wants You knew invest money before you can do your work or someone says, oh, no, you can't do work. You have to give me the money if you walk away. That's on you Wade then asked if they had requested test data or brought in outside scientific and regulatory experts or an attorney eaters and testified no to all. She said she flip through every but that she was in a scientist we were relying on what we were told by them on the accuracy of the analyzer. She said: wait confirmed with you're saying that she didn't ask for any follow up material after reviewing the binders and asked if she knew of anyone else who had looked at them, I am not aware. No, she said she didn't ask
contracts or confirmed their nose? Patents with public records? All things wade pointed out were common in due diligence operates, its highly unusual for an investor not to perform this type of work before making an investment, I would argue deal Genes is ten the bordering on hundreds of hours, and most of it is not spent with the team. Most of it is spent trying to prove yourself incorrect on how wonderful you think the product in need are right and if you can't prove yourself incorrect then make an investment throughout the three and a half hour cross examination that would continue and the next day of court Wade made it clear that Petersen did not possess a strong knowledge of what the investment entailed or what their noses accompanying was doing. He also chow
the testimony that Petersen had made regarding the decision to up their investment to one hundred million dollars. Following that baroness visit are you aware that there was actually discussion and a belief going into the trip to California that they probably would make a one hundred million dollar investment? He asked Peter said she was unaware of the conversation but then Wade, showed an email between her boss and c o o the divorce family office a few days prior to their Palo Alto trip, stating that investment would probably be a one hundred million dollar investment following Peterson testimony prosecutor, Robert Leech brought up an issue with the judge regarding Wade's cross examination, specifically with what he called a victim blaming prior to the start of the trial. Judge double ruled that someone's lack of knowledge or due diligence of terror knows could not be argued as a defence and leech felt that wage
Cross examination, which seemingly centred almost entirely on this piloted. This ruling judge shovel pointed out that there was no objection during testimony and also the Peterson's due diligence can't be brought up in the defence ultimately makes they're closing argument at the end of the trial. This isn't absolutely crucial point. According to attorney Caroline police see what they do at the end of trial is put all the pieces of the puzzle together and the point that was raised. This Is that not the judge is not going to allow the defence lawyers at the end of the trial, try to put the pieces of the puzzle together, in a way that is blaming the victim. And so the answer to these questions be admissible evidence and they may be relevant for some other issue, but they can then be put other in a legal argument to say that they should have
on better or somehow that this absolves Elizabeth homes of any guilt. In this case never know what you're gonna get on this. That's all I'm dyin. Can you hear me out behind the scenes is always adventure. I believe, as does the people see during the commercial world right they do. I have. I have no idea really what I was getting myself Dante that we walked out. I treasure I just couldn't during our joy was view be timetable we gave you can in that smolny of both these multi million dollar investors. One striking detail pops up that we heard and testimony many times before they say they invested partially, on the basis that there are no technology had been vetted by ten of the fifteen largest pharmaceutical companies. Men
Investors likely said Petersen of the Device family office where most impressed with one particular endorsement Pfizer's. In her faster, binder fairness included a report from the pharmaceutical giant endorsing their nose technology Pfizer logo, emblazoned on the front page of the prosecution told us in their opening statement of this trial that the logo was doctored and now with the next witness we appear to have the testimony to back this up into them. an aid. Shane Weber was Pfizer's. Then, director of diagnostics, he was tat with reviewing their noses technology and set up a call with Elizabeth HOMES was trying to sell him on a era knows prepared study that touted its superior performance, excellent accuracy and performance ability against commercially available gold standards. Elizabeth commanded, the car.
It was almost entirely vocalize by Miss homes, as I remember it, none of the other people spoke about testified. The call Weber sent a series of follow up due diligence questions and after receiving responses, he prepared a report with his recommendations for the Pfizer team. They weren't good euro. There are no says not at this time. Have any diagnostic are clinical interest. Iser prosecutor early tread was your recommendation. It was Why was that? Your recommendation, Weber told leads that that therein, Technology was unable to run the type of tasks that Pfizer needed, wasn't FDA, approved and was ready for use whatever went on testified that any hour long call with Elizabeth AIR knows firmly provided oblique, defective or save non, informative answers to technical due diligence. Questions
and then of that study. Elizabeth, shared Weber, wrote, Baroness, has provided a poorly prepared summary document of their platform for home, patient use and then the nine conclusions in their summary document are not believable based on the information provided. Webber's supervisor is agreed with his recommendation and although they greed to check in with their knows every six months. A partnership would never happening. Did you ever change your recommendation? At any point, Leech asked? No, I did not of a replied, but that didn't seem to matter to their nose prosecutor in turn, the court's attention to a now familiar document. It the same document. Elizabeth had originally Centre Pfizer, the one we have just heard, upper vociferously discredit at this time, the d human contain that Pfizer logo. On the left hand corner this was the copy
and sent to Walgreens the same one that would be sent to investors like a divorce, family, Rupert, Murdoch, others Liege set up, there document side by side for the court to see. Did you approve of the Eu said the Pfizer logo on the document provided to Walgreens? I am not aware of any Pfizer approval for the use of the Pfizer trademarked logo. On this document. Iver answered here, Caroline police, that's a huge moment because you can make the argument. Well, people misunderstood stood what she was trying to say, or maybe there's some wiggle room here. She really didn't have any intention of misleading anybody. See and actual doctored document. With your own two eyes, I mean that's almost impossible to rebut, and so this was a huge moment a huge moment
for the government, in fact Weber went on. He said he would never be allowed to approve the Pfizer logo on an external document for another company, as that is the purview of five or legal and trademark. Leech went on what happened fair to say in two thousand ten hereafter that Pfizer endorse their noses technology. No fibre answered, You agree with the statement that Pfizer validated their noses technology. No, I do not Is it right to say that you came to the opposite conclusion? I did, the cross examination was brief. Defence attorney John Klein pointed out that there are no had dealings with eyes are for a few years before Weber joined by were agreed with this said he had received all of the dock. maintain in the studies and so had the body of knowledge necessary to assess their interactions climb
and on to emphasise that Weber only spend three months working with Baroness and that he never visited their nose headquarters or examined the machine in person. One thing conspicuous They laughed out of their cross examination. Any talk of allegedly doctored report. They didn't cross on this issue because there is nothing to for us You know deny that these were doctored documents and that that is. To be a very compelling argument, certainly something dad the prosecution enclosing arguments is going to point out to the as the trial enters its ninth weak. Those closing arguments and a verdict are looming, closer everyone wants to know how this trials. Outcome affect future investments and biotech and healthcare companies enter capitalist, prime.
Roberts thinks it won't work the needle as much as you might think. I do not believe that there are no story has any effect on how people will find healthcare governs. I think that it is such an allgeier. I hope it makes people do their work and do their diligence on investment, but I don't think it going to alter the amount of capital or where the capital goes, because its such an owl liar, I feel I can not guilty verdict- is at least implicitly perhaps explicitly telling the world that it's ok to lie, so that would be disappointed. play all they could guilty versus not guilty. Verdict will have any effect on investment dollars
with these witnesses, wrapped we expected to hear from others, but in the latest disruption of U S be homes, a water main breaks down the entire city block no running water in the courthouse meant no court. sittings or shot down Rebecca, we'll be back next. Tuesday to report how things unfold from here to men? For that Elizabeth, Alms and Sunnyvale wanting did not respond or declined. A comment for this common a material, including court depositions were added aid for clarity and time. The drop out Elizabeth homes on trial is written and reported by Victoria Thompson. Taylor done and Rebecca Jarvis Victoria is the executive producer and Taylor and Rebecca Arthur producers for
ABC Audio Susie Louis producer and Madeline Wood and Marla Milwaukee are associate, producers then in MILES Cohen, our court producers for Ebay sees business unit are associate producer as Victor, I don't guess, and our production assistant is laid when mixing in scoring is by Susie Loo and am entirely and then also compose the music for the drop out. Our work is by Teddy blanks at chips and why and Cedric HANS Tat for every see Audio LISA Lessons executive. Pretty sir special thanks to Josh fell hand. Elizabeth Rousseau in Rosenberg, Eric Opera and station issue be sure to subscribe to the drop out podcast. And if you like, what you heard leave us a review. Listen to new episodes, every Tuesday
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Transcript generated on 2021-11-02.