Life Time Fitness Trader Sentenced To 1 Year In Prison

Law360 (September 9, 2019, 7:19 PM EDT) -- An Illinois federal judge sentenced a California stock trader to a year and a day in prison Monday for his role in an insider trading scheme based on information that Life Time Fitness Inc. was going to be taken private.

Eric Weller was one of nine people charged over the scheme but the only one to take his charges to trial, where he was found guilty on one count of conspiracy and not guilty on three counts of securities fraud by insider trading.

In a sentencing hearing Monday, Weller’s counsel urged U.S. District Judge Matthew Kennelly to sentence him to no...

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