$12.5 million insider trading case ends in conviction of former CEO of Henderson company [Yahoo! Finance]
Ontrak, Inc. (OTRK)
Company Research
Source: Yahoo! Finance
Terren Scott Peizer, 64, was on the board of directors and served as CEO for Ontrak Inc. He is a resident of Puerto Rico and Santa Monica, California. A Los Angeles jury found Peizer guilty of one count of securities fraud and two counts of insider trading after he avoided $12.5 million in losses by selling stock before news came out that the company was losing its biggest customer, according to a news release from the U.S. Attorney's Office for the Central District of California. Ontrak's stock price plummeted by 44% when the news went public. What makes the case unique is its focus on Rule 10b5-1 trading plans that have been used by executives to line their pockets at the expense of shareholders, explained U.S. Attorney Martin Estrada. This was the first insider trading prosecution based exclusively on the use of those trading plans. Peizer used two Rule 10b5-1 trading plans, according to evidence presented at a 10-day trial. He knew that Ontrack's largest customer was abou
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News
- Ex-CEO of Nevada-based health care company Ontrak convicted of $12.5M insider trading scheme [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Ex-CEO of Nevada-based health care company Ontrak convicted of $12.5 million insider trading scheme [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Ex-CEO of Nevada-based health care company Ontrak convicted of $12.5 million insider trading scheme [Yahoo! Finance Canada]Yahoo! Finance Canada
- Ex-CEO of Nevada-based health care company Ontrak convicted of $12.5M insider trading scheme [Yahoo! Finance]Yahoo! Finance
- From EHRs to AI: Amendola Celebrates 20 Years Helping Clients Drive Healthcare Transformation [Yahoo! Finance]Yahoo! Finance
OTRK
Earnings
- 5/14/24 - Beat
OTRK
Sec Filings
- 6/25/24 - Form SC
- 6/5/24 - Form 4
- 6/5/24 - Form SC
- OTRK's page on the SEC website