SEC drops insider trading suit against ex-health

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. Here are the details: * In 2023, Peizer, 65, the founder and former chief executive of healthcare company Ontrak, was charged by the Department of Justice with insider trading. * The SEC also launched civil insider trading charges against him in a parallel action. * At the time, authorities called the charges groundbreaking. It was the first criminal case involving the use of a pre-arranged stock-selling program designed to help shield executives from such charges. * Peizer sold more than $20 million of Ontrak stock between May and August 2021 while in possession of material non-public negative information related to the company’s largest customer, authorities said. * He was convicted of insider tra