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$12.7 million in avoided losses sits at the center of a civil enforcement action the Securities and Exchange Commission has now closed.
The agency dropped its insider-trading lawsuit against executive Peizer after he received a presidential pardon from President Trump.
A criminal conviction and a three-and-a-half-year prison sentence, handed down in 2025, had already resolved the parallel criminal proceeding.
What the SEC alleged The commission's case turned on a single claim: Peizer sold shares in his company after learning that a major client intended to terminate its relationship with the firm.
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