An executive of the Life Time Fitness chain and eight others have been charged with using insider information to scoop up stocks before word of the Minnesota-based company’s sale in 2015 pushed share prices higher.

The U.S. attorney’s office in Chicago said Friday those who were charged made nearly $900,000 in illegal profits buying shares in Life Time Fitness Inc. earlier in 2015.

The company’s vice president for corporate sales, Shane Fleming, is accused in an indictment returned in Chicago of passing along the insider tip to a friend who prosecutors said then told his girlfriend and other friends.

The share price soared from around $58 to around $70 within just days in March 2015 after a newspaper first reported the company’s pending sale.

Life Time Fitness spokesman Jason Thunstrom says Fleming hasn’t worked for the company since last year but declined to elaborate. He said Life Time Fitness has cooperated with authorities.


Court records Friday didn’t include the name of an attorney for Fleming.

Life Time Fitness operates gyms in the Chicago area and around the country.