Theranos will Finally Pay Back Customers

Payout is Less than $30 Per Person

Arizona customers who bought blood testing services through Theranos will finally get their money back.

A settlement deal is costing the company $4.65 million to its Arizona customers. 1.5 million blood tests to more than 175,000 customers in the state were sold between 2013 and 2016. The average payout will be $26 per person. Theranos has voided two years of blood tests, faced federal probes and has been drowned in lawsuits from customers and investors. Not only did the company agree to the settlement payout in Arizona, but also to a payout of $200,000 in civil penalties, $25,000 in attorney fees, and cover the cost of the third party overseeing the refund process. Another settlement with the Centers for Medicare and Medicaid Services will cost them an additional $30,000. Arizona sued for misrepresenting the accuracy, and reliability of its blood tests. The company has agreed to not own or operate any clinical labs for two years. If you are a customer in Arizona expecting a refund, the process could take several months.

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