A representative for the family office of former Education Secretary Betsy DeVos took the stand Tuesday in the Elizabeth Holmes trial to discuss a roughly $100 million investment made in Theranos in 2014
Alex Wong/Getty Imagestook the stand Tuesday in the Elizabeth Holmes trial to discuss a roughly $100 million investment made in Theranos Inc. in 2014.
Lisa Peterson told jurors she has managed a portfolio of private-equity investments for the DeVos fund, called RDV Corp., since 2005. Ms. Peterson said she wasn't the one who made the decision to invest--it was ultimately made by her bosses and DeVos family members--but she handled the investment for the fund. She said she volunteered to work on the Theranos investment because she had an interest in healthcare.Jurors saw an email from one of her superiors, Jerry Tubergen, that was sent in September 2014 to members of the DeVos family.
Ms. Peterson said she participated in a call with Ms. Holmes and reviewed two "very large" binders of information, sent by Theranos, to help prepare her colleagues for a meeting with Ms. Holmes in Palo Alto, Calif. She said the impression she got was that, "This was going to be a game-changer for healthcare."
Ms. Peterson's testimony was delayed by an hour of arguments before the jury entered over what evidence could be shown during her time on the stand. An attorney for Ms. Holmes took issue with plans to show clips of a CNBC "Mad Money" interview Ms. Holmes did after The Wall Street Journal first reported on problems with Theranos's proprietary blood-testing technology.
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