Unable to pay her lawyers in an Arizona fraud lawsuit, Elizabeth Holmes is defending herself by … phone
for an undisclosed sum, on top of whatever legal fees she had to pay that weren’t covered by Theranos’ corporate insurance.
Holmes, whose net worth was estimated at $4.5 billion before Theranos cratered, hasn’t publicly disclosed any financial hardship. But lawyer John C. Dwyer, a partner at Cooley in Palo Alto said he was concerned about her finances when he gave notice to the Arizona court that his firm was withdrawing after representing her for almost three years.“Ms. Holmes has not paid Cooley for any of its work as her counsel of record in this action for more than a year,” Dwyer wrote in the court filing.
“It’s possible that she paid Williams & Connolly a large retainer up front that its lawyers are now ‘earning,’ ” McQuade said in an email.
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