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Elizabeth Holmes, founder of defunct blood-testing startup Theranos Inc., who was convicted of fraud, has asked a federal judge for a new trial after she said one of the prosecution’s key witnesses visited her home to express his regret at his role to express in their process. after a new court act.

Ms Holmes said in a filing on Tuesday that Adam Rosendorff, a former Theranos lab chief who testified for five days at her criminal fraud trial, showed up unannounced at her home on Aug. 8. During his visit, Dr. Holmes’ partner, saying that the government distorted his statement that Theranos “worked so hard to do something good and worthwhile” and that he felt guilty “to the point that he had trouble sleeping.” according to the court documents.

Ms Holmes argues that the alleged statements made by Dr. Rosendorff to her partner to qualify her for a new trial or hearing to discuss the evidence.

A federal jury convicted Theranos founder Elizabeth Holmes on four out of 11 counts. Each charge carries a maximum prison sentence of 20 years. WSJ’s Sara Randazzo shares highlights of Ms Holmes’ testimony. Photo: Josh Edelson for The Wall Street Journal

dr Rosendorff declined to comment when reached by phone on Tuesday. A spokesman for the US Attorney’s Office for the Northern District of California declined to comment.

The filing is the latest twist in a spectacular fraud saga that unfolded in court a year ago and has become one of the most closely watched business cases in Silicon Valley history. Ms Holmes was convicted of four counts of criminal fraud in January for deceiving investors while running a year-long program at Theranos, where she was chief executive. Her former business and love partner, former Theranos President Ramesh “Sunny” Balwani, was convicted of 12 counts of fraud in July.

Ms Holmes last week sought an acquittal and during the hearing her legal team said they had newly discovered information that would help her case but no further details. On Tuesday, US District Judge Edward Davila denied the motion for an acquittal. Ms Holmes is due to be sentenced in October, while Mr Balwani is due to be sentenced the following month.

During his visit on August 8th, Dr. Rosendorff not directly with Ms. Holmes, but with her partner Billy Evans, who answered the door, according to Mr. Evans’ account of the exchange, which was filed in court records. dr Rosendorff looked disheveled and his voice trembled as he explained that “he feels guilty,” according to the report. “He said he was in pain,” said Mr. Evans. dr Rosendorff explained that during the trial he “tried to answer the questions honestly” but that the government made things sound worse than they were when he was on the witness stand during his testimony. He said he felt he had done something wrong, according to the report.

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Mrs. Holmes argues that if Dr. Had Rosendorff made such statements in court, it would have significantly strengthened her defense and could have swayed a jury.

The government called 29 witnesses, including other former Theranos lab workers, to testify against Ms. Holmes.

dr Rosendorff, a central government witness in Ms. Holmes’ trial, testified about concerns he brought to her directly about Theranos’ technology and its efforts to delay the use of the company’s blood-testing equipment on real patients. As lab chief from 2013 to 2014, he told the court that he was responsible for responding to complaints from doctors and patients about Theranos’ inaccurate lab tests and that he was pressured to make excuses for the erroneous results that posed the responsibility distracted from Theranos.

On his LinkedIn page, Dr. Rosendorff included a link to a news article from the South African Jewish Report that called him a “medic who helped uncover Theranos.”

dr Rosendorff revealed during the trial that he was a source for the Wall Street Journal’s 2015 coverage of Theranos, before the newspaper published a series of articles revealing that Theranos’ fingerstick lab tests were unreliable and that the company often relied on commercial devices instead, but even those test results could be wrong.

One of Mrs Holmes’ lawyers, Lance Wade, questioned Dr. Rosendorff spent nearly four days in often hostile exchanges, much longer than the government interrogated him. Tuesday’s court filings said Dr. Rosendorff had left a voicemail with Mr. Wade on August 8th requesting a meeting with Ms. Holmes. Mr. Wade didn’t answer anyway until Dr. According to the court documents, Rosendorff drove to her home.

Write to Heather Somerville at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the September 7, 2022 print edition as Theranos’ Holmes Seeks New Trial, Cites Witness Take.

Bitcoin BTC/USD started a sharp decline Tuesday at 1:00 p.m Dogecoins DOGE/USD followed suit.

On Friday, Benzinga exclaimed that Tuesday is likely to see a bullish or bearish breakout as Bitcoin nears the apex of a symmetrical triangle pattern that consolidated the top crypto over the Labor Day long weekend.

After the triangle collapse, Bitcoin plunged nearly 4%, Dogecoin plunged nearly 5%, while Bitcoin plunged nearly 5% ether ETH/USD held up relatively stronger, slipping about 1% lower.

A bearish day in broader markets didn’t help the situation as the S&P 500 showed early signs of indecisiveness before beginning to fall about 0.6%.

The bearish action in the stock market and crypto sector was likely a disappointment to many retail traders who were hoping that the start of the fall trading period could bring plenty of money back to their trading desks for a bullish end to the third quarter.

Below is a look at the three crypto charts.

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The Bitcoin chart: Bitcoin began trading in a symmetrical triangle pattern on August 28, creating a series of lower highs and higher lows as volatility decreased and the daily trading range tightened. The collapse of the triangle has sent the crypto into a fresh downtrend, with the recent lower high being formed at $20,060 on Monday and a new low on Tuesday.

• The collapse of the pattern also caused bitcoin to fall below the key psychological support level of $20,000. The area can now act as a strong resistance unless the bulls are able to come in and support Bitcoin again in a short time.
• If Bitcoin closes the trading day near its daily low, the crypto will print a bearish engulfing candlestick, which could indicate lower prices to come again during Wednesday’s 24-hour trading period.
• If the crypto bounces higher to close the period with a lower wick, Bitcoin will print a hammer candlestick, which could indicate a bounce is in the cards, making another lower high the most likely scenario.
• Bitcoin has resistance at the top at $19,915 and $21,213 and support at the bottom at $17,580 and $16,000.

The Ethereum chart: The wedge which Benzinga called out on Ethereum on Friday widened over the weekend and on Tuesday the crypto tested the lower ascending trend line of the newly drawn pattern, holding the area as support. The relative strength could be due to Ethereum’s upcoming merger date.

• Ethereum is trading in an uptrend within the pattern, with the recent higher high formed during Tuesday’s 24-hour trading session at $1,686.82 and the recent higher low at $1,534.54 on September 3rd.
• If Ethereum ends the trading day near its daily low, the crypto will print a shooting star candle that could portend lower prices and a wedge collapse is on the cards.
• If the crypto is able to bounce up and close the 24-hour session flat or near the daily high, Ethereum could continue trending higher within the wedge for an extended period.
• Ethereum has resistance at the top at $1,717.41 and $1,957.24 and support at the bottom at $1,421.80 and $1,245.

The Dogecoin chart: Dogecoin broke from a sideways trading pattern on above-average volume on Tuesday, suggesting that the bears may have taken control. As of Tuesday afternoon, Dogecoin’s volume on Coinbase was around 227,000 compared to the 10-day moving average of 195,444.

• The drop to the downside negated a slight uptrend the crypto had settled into inside the horizontal pattern. Dogecoin also lost a key support level at 6 cents and bullish traders will want to see Dogecoin close the 24-hour session above this level for more confidence in the future.

The eight-day and 21-day exponential moving averages (EMAs) on Dogecoin’s chart have started curling lower, which could indicate that the two EMAs will continue to guide the crypto lower. Bullish traders will want to regain the 8-day EMA as support, which briefly happened Tuesday morning before the cryptocurrency rejected the $0.065 level.

• Dogecoin has resistance above $0.06 and $0.065 and support below $0.057 and 5 cents.

See Also: Bitcoin ($BTC), Dogecoin ($DOGE), Ethereum ($ETH), Tesla Motors (TSLA) – Do you think Bitcoin will end below $15,000, Ethereum below $1,000 and Dogecoin below 5 cents? September?

Photo via Shutterstock.

A new “high-end” industrial campus will be built in Kirkland in 2023, real estate development and management firm Rosefellow announced Tuesday.

The campus will house three buildings with LEED (Leadership in Energy and Environmental Design) environmental certification, respecting the city’s sustainability goal.

The project should cover 1.3 million square feet and its cost is estimated at US$300 million. It will be built “at the corner of Highway 40 and Saint-Charles Boulevard” in Kirkland’s industrial area.

The campus will be “on the axis” of the REM and will be easily accessible both by car and by public transport.

Work will begin in spring 2023 and is expected to last a year, Rosefellow’s statement said.

“The bar will be high! […] This high quality industrial campus will attract the most prestigious tenants in the country. We want to thank the city for their trust and, most importantly, for believing in Rosefellow’s vision,” said Mike Jager, co-founder and co-owner of Rosefellow, in a press release.

A screening wall will be erected to ensure the safety and tranquility of local residents.

“We are very pleased to be working with Rosefellow,” said Mr. Michel Gibson, Mayor of Kirkland. […] This prestigious industrial project, endowed with high quality architectural and landscape harmonization, will radiate throughout the region and throughout the province.”

According to analysts at the BlackRock Investment Institute, Federal Reserve policymakers will surprise themselves — and not in a good way, when it comes to stocks and other assets considered risky.

BlackRock has argued that investors are dealing with “regime change” as the COVID-19 pandemic upended an unusual period of mild volatility in output and inflation, heralding a more volatile market environment reminiscent of the early 1980s carries. This is an environment where record levels of debt mean small changes in interest rates will have outsized effects on governments, households and businesses, the research arm of the world’s largest wealth manager has argued.

“Central bankers at the recent Jackson Hole forum began to recognize this reality. But we believe they do not prioritize economic impact over pressure to contain inflation,” the analysts said in a Tuesday note, referring to the monetary policy symposium held in Jackson Hole, Wyoming, in late August.

“It seems that for the time being they do not intend to manage the sharp trade-off between inflation and growth. That’s a big deal. We think bringing inflation back on target for the central bank means crushing demand with a recession,” they wrote. “This is bad news for risky assets in the near term.”

Powell is signaling that the Fed has no intention of backing down on rate hikes, but those hikes won’t solve the biggest problem, BlackRock analysts said, which is low production capacity (represented by the green dotted line in the chart below).

Fed Chair Jerome Powell said in an Aug. 26 speech in Jackson Hole that policymakers are determined to bring inflation back to its 2% target, but that the effort is likely to mark a “sustained phase of the “Below trend growth” would require, which “would mean some pain for households and businesses.”

The problem, according to BlackRock analysts, is that rate hikes will not solve the biggest problem: low production capacity (see the green dotted line in the chart below).

BlackRock Investment Institute

You explain:

The only way the Fed can bring inflation down quickly is to raise rates high enough to drag demand (orange line) down about 2% to what the economy can now comfortably produce. This is well below the pre-Covid growth trend (pink line). But the Fed has yet to acknowledge the high cost of growth or the unusual nature of the labor market restrictions since the pandemic. We estimate that an additional 3 million people would be out of work if demand fell by 2%.

We think the Fed will be surprised at the growth damage caused by its tightening. When the Fed sees this pain, we think they will stop raising rates. We believe that by then it will be too late to avoid a slowdown in economic activity, but the drop will not be deep enough to bring PCE inflation down to the Fed’s 2% target. Instead, we expect inflation to remain close to 3%.

What does this mean for investors? The main conclusion is that the new regime will require more frequent portfolio adjustments, the analysts said, while the time horizon is also crucial.

“In the short term, we are underweight developed market (DM) equities given the deteriorating macroeconomic outlook. Central banks are expected to overrun monetary policy and hold back the economic restart. In our view, the recessions we are forecasting are not priced into equities. That’s why we’re not buying the dip,” they wrote.

Longer term, they said they were slightly overweight DM stocks, which are relatively attractive versus private growth assets – which, like their public counterparts, have yet to be re-rated – and fixed income, where higher yields would likely weigh on expected returns. Meanwhile, sectors expected to benefit most from secular trends like the net-zero crossing, such as technology, are also particularly well represented in the DM stock universe, they said.

Shares fell on Tuesday as US investors returned from the Labor Day holiday, with the Dow Jones Industrial Average DJIA finishing -0.55%, down 173.14 points, down 0.6%, while the S&P 500 SPX down 0.4%, down 0.41% and the Nasdaq Composite COMP , down 0.74%, down 0.7%.

A Social Security Administration office in Sebring, Florida.

Jeff Greenberg | Universal picture group | Getty Images

The agency’s service difficulties date back to before the pandemic, said Maria Freese, senior lawmaker with the National Committee to Preserve Social Security and Medicare.

“The Social Security Administration has been underfunded and understaffed for over a decade as demands on its services have increased,” Freese said.

What changes are to be expected in the social security offices

Social Security is now taking steps aimed at reducing their in-person wait times, especially in their busiest offices.

For offices that require trunks, Social Security provides access to bathrooms, water fountains, and in some cases, outdoor fans and canopies. The agency is also rearranging its waiting areas to allow more people access to its air-conditioned offices. It’s also expanding the use of mobile check-ins for appointments, allowing people to wait in their cars or other nearby locations.

In addition, they are working to expedite deadlines.

VALERIE MACON | AFP | Getty Images

These actions include referring clients either for quick express interviews or for appointments on the same day or in the future; Verifying that visitors have the required information and documents; Provision of mailboxes for documents; giving workload assignments to offices with fewer walk-in customers; assigning volunteers to busier offices; reinstatement of retired employees; Suspension of teleworking for some office workers; and increasing overtime hours for busy offices.

According to Freese, however, these all amount to “makeshift changes.” “We think the agency needs more money,” she said.

“The consequences of years of underfunding are finally manifesting themselves in an agency that appears dysfunctional to outsiders,” she said.

Which locations had the longest wait times?

In its response to congressional lawmakers, Social Security also released data on which locations were more likely to experience long waits from April through August.

“This weekly data shows that a very small percentage of our more than 1,200 branch offices had queues of 40 or more visitors,” Kijakazi said.

The number of locations with more than 40 people waiting outside at 9 a.m. was 216, with a total of 4,461 occurrences during those months.

The locations with the most occurrences (94) included Orlando, Carrollwood, Perrine and South Miami in Florida; the Twin Cities in Minnesota; southwest and northwest of Houston and Pasadena in Texas; and Las Vegas. Locations with 93 occurrences were Hialeah and Little Havana, both in Florida.

The number of sites where more than 40 people were waiting outside at 3:00 p.m. was far fewer (37), with a total of 341 occurrences.

The places with the most occurrences included Orlando with 40; Little Havana, 37; Perrin, 33; Southwest Houston, 31; Northwest and Southeast Houston, each with 27 in Texas; South Miami, 26; the Twin Cities, 23; and North Miami, 21, and South Broward in Florida, 13.

Recommended steps for better service

Social Security offices tend to be busiest in the mornings, early in the week and early in the month, Kijakazi said earlier this year when the offices reopened.

In the recent letter to Congress, Kijakazi also reiterated that people may find success faster if they meet their needs either online or over the phone.

Online services are available online at Socialsecurity.gov. By creating a My Social Security account, individuals can request a replacement Social Security card or SSA 1099 tax form, start or change direct deposits, or print or download a benefit letter.

Phone services also tend to be less busy at certain times. Wait times tend to be shorter before 10 a.m., after 4 p.m., later in the week or later in the month, Social Security said earlier this year.

Beginning December 4, Quebec will use gender-neutral questionnaires for all types of blood donation.

Regular blood and plasma donors will see some changes to the questionnaire, including the addition of questions about sexual behavior and pregnancy history. Individuals who report having had a new sexual partner or partners in the past three months are required to answer additional questions.

“Risk assessment related to sexual intercourse is done on an individual basis and not based on belonging to a group that is considered to be at risk,” explained Dr. Marc Germain, Vice President of Medical Affairs and Innovation at Héma-Québec.

“This means, for example, that people who identify with sexual diversity can donate blood, including men who have active sex with other men. In turn, this also means that straight people are no longer eligible to donate blood,” he added.

The gender-neutral questionnaire will be introduced in Quebec in two phases. This new measure can be applied to plasma donations from October 2nd, while other types of donations will have to wait until December 4th.

Getty Images | Matt Anderson Photography

The Federal Communications Commission has for the first time collected accurate information on broadband availability from ISPs and intends to release a first draft of a new broadband map in November, FCC Chairwoman Jessica Rosenworcel wrote on Friday.

The FCC last week “completed the first submission window for submitting data on where broadband service is and isn’t available,” a milestone in the year-long process of creating an accurate U.S. broadband map, it wrote. “For the first time ever, we’ve collected comprehensive site-by-site data on exactly where broadband service is available, and now we’re ready to get to work and begin developing new and improved broadband cards.”

The resulting map should show whether fixed broadband service is available at each residential or commercial location. The FCC’s inaccurate broadband maps have long made it difficult to distribute deployment grants where they are most needed.

Current maps are based on the Form 477 data collection program, in which ISPs report whether they offer service in each census block, essentially allowing ISPs to count an entire census block as served, even if it can only serve one home in the area. The new, more accurate maps will be used to allocate $42.45 billion from the Broadband Equity, Access, and Deployment program created by Congress in the Infrastructure Investment and Jobs Act. advertisement

Bad data bites internet users

In many cases, ISPs have misinformed potential customers into believing that Internet access would be available in homes that don’t have it. Comcast and other ISPs have charged thousands of dollars in upfront fees to wire homes even after falsely promising the service would be available at a specific address. The FCC mapping upgrade was not specifically designed to solve this problem, but it could ultimately make it easier for homeowners to get accurate information.

The FCC voted in August 2019 to require ISPs to submit more accurate data, although the broadband industry’s major trading groups objected to requirements to report availability below the census block level. Congress then passed legislation with similar requirements, allocating $98 million for the mapping overhaul in December 2020. A Rosenworcel letter to members of Congress in March 2021 explained why the process would not be completed quickly:

In order to fully implement the Broadband Data Act, the Commission needs to revise its data collection methodologies and platform. We need to create a framework where vast amounts of data from many different sources can be linked together and fed into a comprehensive, easy-to-use dataset on broadband availability. We also need to develop, test and implement IT systems to collect and verify these different data. We need to create – for the first time – a publicly available, data-driven map of operational locations where broadband is or should be available in the United States.

We then need to collect accurate and complete data from each individual broadband service provider on exactly where they offer broadband service, moving from counting blocks to digging down to the location of each home and small business – and then overlaying that information on our map of serviceable locations . And finally, we must find a way to collect data from a variety of independent sources, including state and local governments, tribal nations, consumers, and other private and public third parties to help us supplement and supplement the information we collect from the Service check providers.

As Rosenworcel explained Friday, the FCC has since “compiled the first-ever national data set identifying individual locations that should have a stable availability of broadband service” by drawing on “address records, tax assessment notices, pictures and building footprints, census data, land use records, Parcel boundaries and geospatial data of roads and streets. In contrast, our old broadband maps lacked all this location-specific information.”

Attorneys for Elon Musk and Twitter Inc. TWTR 0.05% discussed the fate of their stalled $44 billion merger agreement during a Delaware Chancery Court hearing, including the pace and substance of the discovery process, the relevance of a whistleblower complaint and the timing of the process.

During the first half of Tuesday’s hearing, attorneys from each side took turns arguing before Chancellor Kathaleen McCormick about so-called investigative motions, or her various requests for information. They are expected to argue later in the hearing over whether Mr Musk should be able to add claims made by a whistleblower, former Twitter security chief Peiter Zatko, to his counterclaims.

“It was hide and seek with them,” said Andrew Rossman, one of Mr. Musk’s attorneys. “You’re not answering our basic questions. You take a deep breath.”

Mr Rossman added that the unjury trial in the case should be postponed from October to November for this reason. “We are fully aware that the current schedule is no longer working,” he said.

Twitter attorney Bradley Wilson countered that the social media company’s team had been working around the clock to meet the defendant’s demands, which he called “unreasonable.”

“No one is taking a breath on this case,” he said. “Twitter has nothing to hide.”

The scope of the hearing shows how contentious this legal battle has become and marks a further escalation of a dispute that has already taken some dramatic turns. The result could, among other things, grant or block access for both sides to more emails, texts, data and legal rights.

Twitter sued Mr Musk in July over his attempt to walk out of their $44 billion merger agreement struck in April. Mr. Musk later filed a countersuit, accusing the company of misrepresenting the health of its business and key metrics about users on its platform.

On Friday, Chancellor McCormick said she would allow Mr Musk’s lawyers to reconsider her request to force Twitter to collect and review documents from a wider date range. The judge denied Mr Musk’s request in a decision late last month.

In that ruling, she cited, among other things, the additional burden placed on Twitter by its decision to grant it a subset of additional information from Twitter related to spam and fake accounts, after responding to a request from Mr. Musk after several years away from Twitter -Data had called such accounts “absurdly wide”.

The judge also said she would review Mr Musk’s request regarding Twitter’s Slack messages, urging both sides to be prepared to discuss whether Twitter was willing to provide the requested messages to a modified “quick peek.” ‘ to submit an agreement. That would mean that data would be made available to Mr Musk’s lawyers for a limited period of time.

Chancellor McCormick is also hearing arguments related to two pending requests from Twitter: his request for emails from Mr Musk about accounts at his companies Tesla Inc. and Space Exploration Technologies Corp. as well as following texts between Mr Musk and Jared Birchall, the head of Twitter Mr Musk’s family office. Twitter filed a draft order on Friday accusing Mr. Musk of “failing to act in good faith” during the investigative process into the lyrics.

The most weighty request Chancellor McCormick is expected to consider is whether Mr Musk should be allowed to use the allegations made in the whistleblower complaint to substantiate his case. The complaint, filed with the Securities and Exchange Commission in July and published last month, accuses the company of failing to protect sensitive user data and lying about its security problems.

Mr. Musk and his attorneys have said that if the allegations were true, they would show a breach by Twitter of certain terms of their merger agreement. Twitter said the complaint was “riddled with inconsistencies and inaccuracies and lacked important context.”

– Erin Mulvaney contributed to this article.

write to Sarah E. Needleman at [email protected]

Corrections & Enhancements
Delaware Chancery Court Chancellor Kathaleen McCormick on Aug. 25 denied a motion by Elon Musk requesting Twitter documents from a larger date range. A previous version of this article incorrectly stated that she made the decision last week. (Corrected 6 Sep)

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