LOS ANGELES — The former CEO and chairman of Ontrak, a publicly traded health care company based in Nevada, was found guilty Friday of a multimillion-dollar insider trading scheme.
In a statement announcing the conviction, the Justice Department described it as the first case it has prosecuted exclusively based on what is known as Rule 10b5-1, which allows company insiders to create a predetermined plan to sell shares while also setting limits on certain trading practices.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: