Theranos was a Silicon Valley health-tech startup that promised it could run dozens of laboratory tests from just a finger-prick of blood, leading to rapid expansion through partnerships and patient testing from 2013 to 2016. Those claims later unraveled amid allegations that the company’s technology could not reliably perform as advertised and that many results were generated using conventional lab analyzers rather than the touted proprietary devices. As regulators and investigators scrutinized the company, its testing operations were curtailed and the episode became a widely cited example of the risks that can arise when medical innovation outpaces validation and transparency. The class action settlement addresses claims that consumers paid—out of pocket, through insurance, or otherwise—for blood testing services that were allegedly faulty or misrepresented during that period, and it provides a pathway for eligible individuals to receive a cash payment (reported as $10+ with deadlines varying). Lawsuits like this are significant because they focus on patient-facing harm and consumer protection: inaccurate lab results can trigger unnecessary follow-up care, missed diagnoses, stress, and financial costs. The case also sits within a heavily regulated diagnostics industry overseen through frameworks such as the federal Clinical Laboratory Improvement Amendments (CLIA), which set quality standards for lab testing, and the FDA’s evolving approach to oversight of in vitro diagnostic products—areas that have also featured in other healthcare and device class actions alleging misleading performance claims, inadequate validation, or improper marketing of tests and screening tools.