SEC Insider Case Cites Ontrak’s Peizer for Pre-Arranged Sales

The US Securities and Exchange Commission sued Ontrak Inc. Executive Chairman Terren Peizer for allegedly using pre-arranged stock-sale plans to avoid losses tied to a customer leaving the healthcare company.

The suit filed Wednesday in Los Angeles federal court is part of a sweeping investigation of such plans. The government said Peizer avoided nearly $13 million in losses after the customer left.

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