Life Time Fitness Stock Tipster Gets Year In Prison
Law360 (June 11, 2019, 8:03 PM EDT) -- The lead tipster in an insider trading scheme based on Life Time Fitness Inc.'s planned take-private acquisition got sentenced Tuesday to one year and one day in prison.
Bret Beshey pled guilty in February to one count of conspiracy to commit insider trading over the government's allegations that he spread material nonpublic information about the gym chain's impending deal to others so they could use the information to profit on the stock market.
U.S. District Judge Matthew Kennelly's sentence is less time than the 18 months recommended to him by the U.S. Probation Office and about two years shorter than federal...
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