COLCHESTER, Conn., June 11, 2004 -LAWFUEL – Scott + Scott, LLC, a Connecticut law
firm with offices in Ohio and California, announced that it has commenced an
investigation into Bally Total Fitness Holding Corporation (NYSE: BFT). On
April 28, 2004, the Company issued a press release announcing that its Chief
Financial Officer and Director, John W. Dwyer, had resigned and that the
Division of Enforcement of the Securities & Exchange Commission of the United
States had commenced an investigation in connection with the Company’s
announced restatement regarding the timing of recognition of certain prepaid
dues. The Company also stated that it had modified its existing internal
controls structure, which it believes is now effective. In response to these
disclosures, shares of the Company’s stock fell approximately 17%, to close at
$4.50 per share, on extremely heavy trading volume. A complaint has been
filed in the United States District Court for the Northern District of
Illinois on behalf of purchasers of publicly traded securities of this Company
from August 3, 1999 to April 28, 2004. It is alleged that the Company
reported revenues that were materially overstated due to violations of
Generally Accepted Accounting Principles. During the class period, this stock
traded above thirty dollars per share. If you would like to discuss this
matter, please contact Scott + Scott attorney Neil Rothstein
(nrothsteinscott-scott.com) at 800/404-7770 or 860/537-3818 (EDT) or
800/332-2259 or 619/233-4565 (PDT). He can be reached directly at 619/251-
0887. No class has yet been certified in this action.
Scott + Scott, LLC, a Connecticut-based law firm with offices in Ohio and
California, is a law firm with a national practice and reputation. Scott +
Scott has dedicated itself to client communication and satisfaction. The firm
is currently litigating major securities, antitrust and employee retirement
plan cases throughout the United States and represents pension funds,
charities, foundations, individuals and other entities worldwide — in both
class and non-class cases. Please visit our website at
http://www.scott-scott.com to learn more about the firm, its practice and
other cases. If you have any questions concerning this notice, your rights or
any matter within our expertise, please contact attorney Neil Rothstein at
nrothsteinscott-scott.com or by calling 1-800-332-2259, 1-619-233-4565 or
1-619-251-0887. Scott + Scott, LLC is located at 108 Norwich Avenue,
Colchester, CT 06415; phone: 860/537-3818; fax: 860/537- 4432. This release
is issued in accordance with the applicable federal law of the United States.