The Elizabeth Holmes Trial: Closing Arguments Begin

Taking the stand in her own defense, Ms. Holmes tried to counter that narrative by conceding that while Theranos’s proprietary devices could only ever do 12 blood tests, she never intentionally misled anyone about her company and what it was capable of accomplishing.

The U.S. attorney’s office in the Northern District of California will give its closing arguments first. In doing so, prosecutors will try to put into context the evidence they say supports their case: 29 witnesses, including former Theranos employees, business partners and patients, plus hundreds of exhibits such as internal Theranos emails and business documents shown in court.

Attorneys for Ms. Holmes will follow with their summation, after which the government will get the final word with a second round of arguments. The lawyers told the judge they expect to finish Friday, at which point jurors will hear their final instructions and begin deliberations.

The closings are likely to mirror the same themes attorneys presented on the first day of trial, but with attempts to organize the voluminous evidence in a way that will resonate with jurors.

Prosecutor Robert Leach in opening statements repeatedly depicted Ms. Holmes as someone who chose to lie to keep money coming in the door at Theranos, the company she founded as a Stanford University dropout. “Out of time and out of money, the defendant decided to mislead,” he said Sept. 8.

Defense lawyer Lance Wade during his opening remarks described an entrepreneur intending to do good in the world who fell short of success. “Failure is not a crime,” he said Sept. 8. “Trying your hardest and coming up short is not a crime.”

It has been just over a week since jurors last set foot in the downtown San Jose courtroom. The government chose not to call any additional witnesses after Ms. Holmes stepped down from the witness stand Dec. 8 and the defense rested its case. The two sides then spent several days hashing out the instructions that will guide jurors’ deliberations. A prior commitment by the judge also delayed the start of closing arguments.

The drawn-out schedule means jurors are set to do the bulk of their deliberations starting Dec. 20, days before Christmas. The jurors must reach a unanimous decision on each count to convict or acquit Ms. Holmes. They can return a verdict that clears her of some charges and convicts her on others.

Write to Sara Randazzo at [email protected]