Prosecutors had alleged that the blood testing firm could not consistently and accurately provide blood testing results and despite being aware of the issue(s), it had advertised and solicited doctors and patients to use its services.

As per a report from the Wall Street Journal which cites an email to shareholders, Theranos Inc, the embattled blood-testing company is set to dissolve in the coming days.

Theranos will attempt to repay unsecured creditors in the coming months, stated WSJ while adding that big investors had lost nearly $1 billion.

In June 2018, Elizabeth Holmes and Ramesh “Sunny” Balwani were indicted on charges of engaging in schemes tro defraud patients, doctors and investors. Whiles Holmes is Theranos’ founder Balwani was the company’s former president.

Prosecutors had alleged that Holmes and Balwani used advertising and solicitations to encourage doctors and patients to use the services of the company’s blood testing laboratory knowing well that Theranos could not produce reliable and accurate results consistently.

Theranos did not immediately respond to request for comment.

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