Peizer didn’t dump stocks to avoid losses, and if anything, sought to gradually sell his stock warrants over time, Willingham said. He also set up his trading plans after seeking advice from two law firms and receiving approval from Ontrak’s executives to do so, Willingham added.
Testimony will begin Thursday.
The government is represented by Matthew Reilly and Della Sentilles of the U.S. Department of Justice’s Fraud Section and Ali Moghaddas of the U.S. Attorney’s Office for the Central District of California.
Peizer is represented by David K. Willingham, Yelena Kotlarsky and Jamie A. Lang of King & Spalding LLP and Stephen A. Best, Angela M. Papalaskaris and Stephen Cook of Brown Rudnick LLP.
The case is U.S. v. Terren Peizer, case number 2:23-cr-00089, in the U.S. District Court for the Central District of California.
