scott budman (@scottbudman) on X

Both sides have requested a break. We’ll be back in about 15 minutes. (I’ll be trying to charge my laptop …)

#Update: We're back in the courtroom. During the break, Elizabeth Holmes huddled briefly with her family, then was talking (and nodding) with her attorney.

#Update: The judge gets back to business, overruling most of the objections put forward by lawyers this morning. He points out that this case has already been litigated.

#Update: The judge says evidence shows Elizabeth Holmes was leader of the company, but not necessarily the leader of the criminal acts. (Rare mention of Sunny Balwani here) #Theranos

#Update: The judge rules on the money part: Says loss from 10 investors (name checks Rupert Murdoch and Betsy Devos here) totals $384 million. That's less than the $804 million prosecution is asking for.

A quote from the prosecution: “One of the things that makes Ms. Holmes’ fraud remarkable is its success.”

#Update: Judge says reasonable total loss to investors: $121 millon dollars. The judge says he will set a date to determine what Elizabeth Holmes owes .. but that will be a later date.

#Update: We're talking sentencing now. The judge says the "guideline calculation" is 135-168 months. That's 11-14 years. Lawyers now arguing.

#Update: Prosecution: "Day after day, week after week, Elizabeth Holmes chose to practice fraud to her investors. It was running out of money, because its technology did not work."

The prosecution asks for a 15 year sentence for Elizabeth Holmes, to prove "the ends don’t justify the means." #Theranos

#Update: Prosecution says Elizabeth Holmes craved media attention and a lavish lifestyle. Says "the attention desired by Ms. Holmes fueled the fraud." #Theranos

#Update: From Elizabeth Holmes' defense attorney: "Every great crime has a motive." (Strange way to start the defense....)

#Update: Defense attorney continues: "Year in and year out, Elizabeth Holmes had the opportunity to become a very wealthy woman. Hundreds of millions of dollars. Year after year, she declined the offers." (Talking here about #Theranos stock sales.)