23andMe Holding Co., a prominent player in the direct-to-consumer DNA testing market, has engaged legal representation to manage its financial obligations. The company, facing a debt of $214 million, has enlisted attorneys from Carmody MacDonald PC and Paul Weiss Rifkind Wharton & Garrison LLP to assist in addressing its financial position. The move underscores the challenges facing the genetic testing firm as it navigates the complexities of its debt load. Further details on the strategy and next steps are expected to emerge as the legal counsel begins their work. This announcement follows growing financial strains for the company.”
