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Blood-testing company Theranos to dissolve

Theranos Inc. will formally dissolve, The Wall Street Journal reported, citing a shareholder email.

The Palo Alto, Calif.-based blood-testing company, which had been accused of faking tests and defrauding customers, plans to pay unsecured creditors its remaining cash in coming months.

Theranos settled a shareholder lawsuit in July. In 2017, the company reached settlements with the Arizona attorney general, the Centers for Medicare & Medicaid Services, pharmacy chain Walgreens Boots Alliance Inc. and hedge fund Partner Fund Management LP.

The company's founder and CEO Elizabeth Holmes, along with its former president Ramesh Balwani, were charged with wire fraud in June.