The U.S. Securities and Exchange Commission sued Acuitas Group Holdings and Terren S. Peizer, the executive chairman of health care treatment company Ontrak Inc., Wednesday in California Central District Court over alleged insider trading claims. The lawsuit accuses Peizer of trading securities of Ontrak in the name of his personal investment vehicle, co-defendant Acuitas. According to the complaint, Peizer sold more than 640,000 shares of Ontrak stock by using nonpublic information that Ontrak’s then-largest customer had been communicating confidentially to key Ontrak personnel that it was dissatisfied with Ontrak and that it was increasingly likely to terminate its contract. Attorneys have not yet appeared for the defendants. The case is 2:23-cv-01511, Securities and Exchange Commission v. Peizer et al.
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