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SEC Probes Bally; CFO Resigns, Returns

Investigation concerns the fitness company restatement.

> > CFO and director John Dwyer resigned Wednesday from gym Bally Total Fitness Holding Corp., as the SEC launched an investigation into recent restatement of the fitness company.
On Thursday, Dwyer returned to Bally as a $475,000-a-year consultant. The wire service reported that Dwyer will receive that salary through the end of 2005 and that the company is removing all restrictions from 100,000 shares awarded to Dwyer last year.

Source: CFO


Published:2004-05-01
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