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Calif. Trader Guilty Of Life Time Fitness Trading Conspiracy

Law360, Chicago (April 16, 2019, 3:35 PM EDT) -- A California stock trader was found guilty of conspiracy Tuesday but cleared of securities fraud by an Illinois federal jury that heard he had made about $550,000 from selling Life Time Fitness Inc. stock based on inside information that the gym chain was going to be taken private.

The jury found Eric Weller guilty of one count of conspiracy and not guilty of three counts of securities fraud by insider trading. Weller was one of nine hit with insider trading charges in September 2017 for trades he made ahead of the gym chain’s $2.8 billion private equity buyout in 2015....

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Illinois Northern

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September 28, 2017

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