importmagic eating all the RAM

Hi, I am reporting this issue from the elpy issue tracker: https://github.com/jorgenschaefer/elpy/issues/1151
In short, while using importmagic through elpy (= improved Python editing in emacs), the importmagic process ate all the RAM in less than two minutes. In order to be able to work with elpy and do not run out of memory, the only solution was to uninstall importmagic. The version of importmagic used is 0.1.7, on ubuntu 16.04. What could be the reason of this problem? How can I dig into it?
I was able to reproduce the issue on 5 different ubuntu 16.04 machines with the same configuration as in the link above.