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Bally Engages in Proxy War

A Delaware Court issued a blow to Bally Total Fitness Jan. 11, adding more fuel to a bitter proxy battle between the fitness-center giant and hedge funds Pardus Capital Management and Liberation Investments.

The Court of Chancery of the State of Delaware denied Bally's motion for expedited discovery in its legal action against the hedge funds. Bally management is considering triggering "poison pill" provisions.

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