After a legal battle that spanned a decade, the insider trading criminal case against ophthalmic executive James Mazzo has come to an end.
Late Thursday at the Ronald Reagan Federal Building in Santa Ana, California, federal prosecutors asked Judge Andrew Guilford to dismiss all criminal charges against Mr. Mazzo, the former chief executive officer of Advanced Medical Optics, according to a report in The Orange County Business Journal.1 Judge Guilford agreed to the request “with prejudice,” allowing the case to be dismissed permanently.
Another judge summarily agreed to sign off on the Securities and Exchange Commission deal with Mr. Mazzo, where he will pay a fine of $1.5 million and agree not to serve as a director or chief executive of a publicly traded company for 5 years, without admitting any wrongdoing.
The settlement means there will not be a third criminal trial. The first two trials against Mr. Mazzo ended in hung juries. Mr. Mazzo had pleaded not guilty in all previous court hearings regarding the allegations by the SEC.
Mr. Mazzo is currently the global president of ophthalmology for Carl Zeiss Meditec, a position he has held since 2016.
- Weitzner P. Mazzo Criminal Case Dismissed. Published December 8, 2018. Orange County Business Journal. https://www.ocbj.com/news/2018/dec/07/mazzo-criminal-case-dismissed/.