United States · US Securities and Exchange Commission (settled civil action, US District Court for the Northern District of California)

Elizabeth Holmes: director ban

In force The final judgment bars her for 10 years following its date of entry. The judgment on sec.gov was filed on 27 March 2018, so on a calculation from that date the bar runs until about March 2028.

Grounds

The SEC charged Holmes, Theranos and former president Ramesh Balwani with fraud. Holmes settled without admitting or denying the allegations and agreed to be barred from serving as an officer or director of a public company for 10 years.^1,2,3

Companies

Theranos, Inc.

Record

• 14 March 2018SEC announced charges and Holmes's settlement, subject to court approval, including a 500,000 dollar penalty and the 10 year bar.^1,2
• 27 March 2018Final judgment filed in the Northern District of California, barring her for 10 years following its date of entry.³

Sources

1. US Securities and Exchange Commission, Press Release 2018-41, Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud (14 March 2018)
2. US Securities and Exchange Commission, Litigation Release No. 24069, Elizabeth Holmes, et al. and Ramesh "Sunny" Balwani (19 March 2018)
3. US Securities and Exchange Commission, Final Judgment as to Defendant Elizabeth Holmes, SEC v. Holmes et al., 5:18-cv-01602 (ND Cal) (27 March 2018)

A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.