Gym firm settles SEC charges
From Times Wire Services
Bally Total Fitness Holding Corp., the biggest U.S. gym operator, settled a Securities and Exchange Commission lawsuit that accused the company of overstating shareholder equity and understating losses.
The company won’t have to pay a penalty and admitted no wrongdoing, Chicago-based Bally said. As part of the settlement, Bally agreed to comply with federal securities laws.
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