NEW YORK, June 4, 2004 (PRIMEZONE) -- The following statement was issued today by Squitieri & Fearon, LLP.
A class action has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Bally Total Fitness Holding Corporation (NYSE:BFT) securities during the period from August 3, 1999 through April 28, 2004.
If you wish to discuss this action or have any questions about it or about your rights, please contact Stephen J. Fearon, Jr. of Squitieri & Fearon, LLP at (212) 421-6492 or by e-mail at Stephen@sfclasslaw.com.
The lawsuit charges Bally Total Fitness and certain of its officers and directors with harming investors by misrepresenting the Company's financial results. The claims are brought under the federal securities laws, including sections 10(b) and 20(a) of the Securities Exchange Act of 1934, asserting that the Company prematurely recognized revenues on prepaid membership dues and took other improper actions which artificially inflated the Company's financial results.
If you purchased Bally Total Fitness securities during the period from August 3, 1999 through April 28, 2004, you have until July 26, 2004 to ask the court to appoint you as a lead plaintiff.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Squitieri & Fearon.