LOS ANGELES, Jan. 16, 2026 /PRNewswire/ -- The following is a statement for release from David Willingham, Partner at King & Spalding, LLP and attorney for Terren Peizer:

"On behalf of Terren Peizer, we want to thank President Trump for his time and thoughtful consideration of this case. The testimony from all the witnesses at trial showed that Mr. Peizer did not commit a crime. Mr. Peizer relied on his Chief Compliance Officer for Insider Trading and his trading plans were approved by the Board of Directors. The management team that operated the company told Mr. Peizer that he was cleared to enter into his trading plans, and those plans were supposed to protect him like they had protected executives for decades. In a classic case of class stereotyping, the government charged him without even bothering to talk to those people about approving his trading plans. This was an unfair process from the start, and the government compounded that problem by excluding jurors who had education and experience. While we were confident of prevailing on appeal, today shows that this case was a massive overreach by the government and a waste of taxpayer dollars. After hearing the facts and the law, Mr. Peizer is so grateful to the President for concluding the same." –David Willingham

"There aren't enough words to express the gratitude and appreciation I have for the compassion and recognition of this unfair process by the most accomplished President of my lifetime, and perhaps beyond. Thank you, Mr. President!" -Terren Peizer

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SOURCE King & Spalding, LLP