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WASHINGTON (Reuters) -U.S. authorities on Wednesday charged the head of the health care company Ontrak Inc with insider trading, marking the first criminal case involving the use of a special trading plan designed to help shield executives from such charges. Ontrak Chairman and CEO Terren 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. In a statement, U.S. Assistant Attorney General Kenneth Polite called the charges a “groundbreaking” effort to prevent the misuse of so-called 10b5-1 trading plans.
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