Ontrak Inc.'s former CEO and chairman Terren Peizer was convicted Friday by a Los Angeles federal jury of insider trading on information about a major customer leaving the health company to avoid losing almost $13 million, the US Attorney’s Office announced on Friday.
A jury in the US District Court for the Central District of California found Peizer, 64, guilty of one count of securities fraud and two counts of insider trading, according to the statement.
Peizer used prearranged stock-sale plans to trade before the news of the customer’s departure became public and the company’s stock price plummeted. His conviction ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.