SEC Drops Insider Trading Case Against Former Healthcare Executive Pardoned by Trump
The agency is seeking to end a parallel civil case after Peizer’s 2024 conviction and Trump’s January pardon.
- On Friday, the Securities and Exchange Commission moved to dismiss its civil insider trading lawsuit against Terren Peizer, the former healthcare executive pardoned by President Donald Trump in January.
- A federal jury in Los Angeles convicted Peizer of insider trading and securities fraud in 2024, resulting in a 3.5-year prison sentence in 2025 before Trump granted him clemency.
- The Department of Justice charged Peizer in 2023 for selling more than $20 million in Ontrak stock while possessing material non-public negative information about the company's largest customer.
- Peizer mentored under Michael Milken, the former Wall Street "junk bond king" who also received a presidential pardon from Trump in 2020 after serving two years for securities fraud.
- Critics and rights advocates have characterized such pardons as double standards, comparing them to the administration's hardline immigration crackdown in Minnesota earlier this year involving fraud claims against migrants.
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7 Articles
SEC Walks Away From Novel Insider Trading Case
The U.S. Securities and Exchange Commission voluntarily dismissed its lawsuit against Terren Peizer on Friday, walking away from a novel insider trading case accusing the convicted Ontrak Inc. founder of avoiding $12.7 million in losses by shedding stock after he learned that the company's biggest client was cutting ties.
SEC drops insider trading suit against ex-healthcare executive pardoned by Trump
The U.S. Securities and Exchange Commission said on Friday it was moving to dismiss an insider trading lawsuit against Terren Peizer, a former healthcare executive who was convicted of insider trading by a federal jury in 2024 and then pardoned by President Donald Trump.
SEC Drops Insider-Trading Suit Against Executive Trump Pardoned
The US Securities and Exchange Commission said it is dropping an insider-trading lawsuit against a former healthcare executive who was convicted in a related criminal case and then pardoned by President Donald Trump.
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