Securities
Jun. 5, 2024
Novel securities fraud trial involving former Ontrak CEO begins
The case is the first time the Department of Justice has brought criminal insider trading charges solely based on an executive's fraudulent filing of Rule 10b5-1 plans.
Jury selection commenced Tuesday in a novel securities fraud case against a former Santa Monica healthcare CEO accused of using nonpublic information to operate an insider trading scheme to avoid millions of dollars in losses resulting from the termination of a contract with the company's largest health insurance client.
It is the first time the Department of Justice has brought criminal insider trading charges solely based on an executive's fraudulent filing of Rule 10b5-1...
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