Customer and shareholder panic attracts industry criticism.
The popular genetic testing company 23andMe has filed for Chapter 11 bankruptcy as its stock price plunges to under a dollar and states’ attorneys counsel citizens to delete their sensitive DNA and personal data. The dramatic legal maneuver draws scrutiny of potential industry risks to the security of personal information and the viability of the company’s business model. However, deeper inquiry suggests the company will likely resume operations as it strips liabilities through bankruptcy, with no effective change in ownership of its DNA database.
Testing Saliva
23andMe is a prominent leader in the popular genetic testing field. Companies including MyHeritageDNA, LivingDNA, LetsGetChecked, and Ancestry.com sell kits that allow consumers to spit in a…
