Criminal,
Securities
Jun. 25, 2024
Former healthcare CEO convicted of insider trading
The case against former Ontrak CEO Terren Peizer was the first time the DOJ had brought criminal insider trading charges solely based on an executive's fraudulent filing of Rule 10b5-1 trading plans.
In a first-of-its-kind securities fraud case, Terren Peizer, the founder and former CEO of healthcare company Ontrak Inc., was convicted by a Los Angeles jury on all three counts related to allegations he used undisclosed insider information to avert over $12 million in losses by selling his share of the company prior to the loss of a contract with its biggest health insurance client.
"Corporate executives and other insiders hold major power in our economy, but with that powe...
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