The SEC lowers the boom on Theranos — but there are more companies like Theranos out there

The issue is especially important with private companies, which don’t get the outside scrutiny that would reveal problems before they develop into public embarrassments or, as in Theranos’ case, allegations of fraud. But it matters for public companies too. At its peak, just after its IPO, Snap Inc. was valued by the stock market at nearly $30 billion. At the moment, it’s worth about $21 billion. Wouldn’t it be nice to be able to hold management responsible?

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