CASE STUDY ON CORPORATE GOVERNANCE: THERANOS SCANDAL

"In 2014, Theranos, a blood-testing startup pitching a supposedly revolutionary technology, was flying high. While existing technology required one vial of blood for each diagnostic test conducted upon it, Theranos claimed to be able to perform hundreds of tests (supposedly over 240) ranging from cholesterol levels to complex genetic analysis, with just a single pinprick of blood. Automated, fast and inexpensive, Theranos seemed to be offering technology that could revolutionize medicine and save lives the world over.

Elizabeth Holmes, founder and CEO of Theranos, had famously dropped out of Stanford to found the company using her tuition money, and was just 30 when Theranos was at its peak. Having raised over $700m in investment from the likes of Larry Ellison and Tim Draper, the company had become the rising star of Silicon Valley and was valued at over $9 billion, while Holmes, with a share of more than half that, was heralded as the female Steve Jobs.

The only problem? The technology didn't work.."

Required:

Based on the statement above, critically analyse the ethics and corporate governance issues. the discussion should include the following topics:

1. Corporate Governance Code
2. Other substantial cases for each issue brought out
3. Recommendation