"As a CEO, Mr. Peizer abdicated his responsibilities by using his position to conceal trading on material non-public information in order to avoid the losses shareholders suffered," said Acting Assistant Director in Charge Krysti Hawkins of the FBI Los Angeles Field Office. "The FBI is committed to investigating illegal trading practices and holding offenders accountable in order to ensure fairness and trust in the marketplace." In establishing his Rule 10b5-1 plans, Peizer refused to engage in any "cooling-off" period—the time between when he entered into the trading plan and when he sold Ontrak stock—despite warnings from multiple brokers, Ontrak's Insider Trading Compliance Officer, and several attorneys. Instead, Peizer began selling shares of Ontrak on the next trading day after establishing each plan.