The Delaware Court of Chancery has stopped for now a tender offer that investors said would allow Theranos Inc. to “insulate itself” and hinder their ability to claw back a $96 million investment in the embattled blood-testing company. Vice Chancellor J. Travis Laster on Thursday granted the motion of a San Francisco hedge fund seeking a temporary restraining order to halt the deal, which had been scheduled to close on Friday.
According to court documents, Theranos circulated the tender offer to certain investors last month in an electronic format designed to “disappear” in seven days.
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