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October 2010

Case in Point

Bally Fitness settles with shareholders over inflated profit statements

The plaintiffs alleged that the fitness club chain, several of its executives, and its auditor reported artificially inflated profits and disseminated false information to defraud investors in violation of the Securities Exchange Act of 1934. The parties reached a $2 million settlement. In re Bally Total Fitness Secs. Litig.

 

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