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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
(Amendment No. 1)
Authentic Fitness Corporation
-----------------------------
(Name of Issuer)
Common Stock, $.001 par value
-----------------------------
(Title of Class of Securities)
052661105
---------
(CUSIP Number)
December 31, 1998
-----------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 9 Pages
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- -------------------- -----------------
CUSIP No. 052661105 13G Page 2 of 9 Pages
- -------------------- -----------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
John J. Lattanzio
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
1,155,200
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 600,600
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 1,155,200
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
600,600
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,755,800
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.6%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 052661105 13G Page 3 of 9 Pages
- -------------------- -----------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Lattanzio Group, LLC
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 600,600
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
600,600
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
600,600
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.6%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 052661105 13G Page 4 of 9 Pages
- -------------------- -----------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Michael J. Linn
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 600,600
OWNED BY
------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
WITH
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
600,600
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
600,600
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.6%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Item 1(a): Name of Issuer:
- ---------- ---------------
Authentic Fitness Corporation (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
- ---------- ------------------------------------------------
6040 Bandini Boulevard
Commerce, California 90040
Items 2(a) Name of Person Filing; Address of Principal
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and 2(b): Business Office:
- --------- ----------------
This statement is filed by and on behalf of (i) John J.
Lattanzio, in his capacity as (1) an individual holder of
Common Stock, par value $.001, of the Company ("Common
Stock"), (2) one of the two managers and the controlling
member of Lattanzio Group, LLC ("LG"), a discretionary
investment manager to certain managed accounts, and (3) a
discretionary investment manager of his minor child's
investment account, (ii) LG, and (iii) Michael J. Linn, in
his capacity as one of the two managers of LG. The principal
business address of each reporting person is 88 Pine Street,
31st Floor, New York, New York 10005.
The shares of Common Stock which are the subject of this
Statement are held directly by the managed accounts for
which LG or Mr. Lattanzio serves as discretionary investment
manager (collectively, the "Managed Accounts") and by Mr.
Lattanzio directly.
Item 2(c): Citizenship:
- ---------- ------------
John J. Lattanzio and Michael J. Linn are both United States
citizens.
Item 2(d): Title of Class of Securities:
- ---------- -----------------------------
Common stock, par value $.001 per share.
Item 2(e): CUSIP Number:
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052661105
Item 3: If this statement is filed pursuant to
- ------- --------------------------------------
ss.ss.240.13d-1(b) or 240.13d-2(b) or (c),
------------------------------------------
check whether the person filing is a:
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Not Applicable.
Page 5 of 9 Pages
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Items 4(a)-(c): Ownership:
- --------------- ----------
As of December 31, 1998:
(i) Mr. Lattanzio had beneficial ownership of 1,755,800
shares of Common Stock by virtue of his position as (1) an
individual holder of Common Stock (1,065,200 shares of
Common Stock or 4.6%), (2) one of the two managers and the
controlling member of LG (600,600 shares of Common Stock or
2.6%), and (3) a discretionary investment manager of his
minor child's investment account (90,000 shares of Common
Stock or 0.4%). Such shares represent 7.6% of the issued and
outstanding Common Stock. Mr. Lattanzio has sole voting
power and dispositive power over the shares of Common Stock
described in (1) and (3) above, and shares voting power and
dispositive power over the shares of Common Stock described
in (2) above with Mr. Linn and LG.
(ii) LG had beneficial ownership of 600,600 shares of Common
Stock by virtue of its position as discretionary investment
manager to the Managed Accounts (other than Mr. Lattanzio's
minor child's managed account) holding such shares of Common
Stock. Such shares represent 2.6% of the issued and
outstanding Common Stock. LG shares voting power and
dispositive power over such shares with Mr. Lattanzio and
Mr. Linn.
(iii) Mr. Linn had beneficial ownership of 600,600 shares of
Common Stock by virtue of his position as one of the two
managers of LG. Such shares represent 2.6% of the issued and
outstanding Common Stock. Mr. Linn shares voting power and
dispositive power over such shares with Mr. Lattanzio and
LG.
The percentages used herein are calculated based upon the
22,990,086 shares of Common Stock stated to be issued and
outstanding as of November 10, 1998, as reflected in the
Company's Quarterly Report on Form 10-Q for the quarterly
period ended October 3, 1998.
Page 6 of 9 Pages
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Item 5: Ownership of Five Percent or Less of a Class:
- ------- ---------------------------------------------
As of December 31, 1998, LG and Mr. Linn ceased to be the
beneficial owner of more than five percent of the
outstanding shares of Common Stock.
Item 6: Ownership of More than Five Percent on Behalf
- ------- ---------------------------------------------
of Another Person:
------------------
No person other than Mr. Lattanzio as an individual holder
of shares of Common Stock and the Managed Accounts is known
to have the right to receive or the power to direct the
receipt of dividends from, or proceeds upon the sale of,
shares of Common Stock, except that the respective
shareholders, partners or owners, as relevant, of the
Managed Accounts have the right to participate in the
receipt of dividends from, or proceeds upon the sale of, the
shares of Common Stock held for their respective accounts.
Item 7: Identification and Classification of the
- ------- ----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
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Not Applicable.
Item 8: Identification and Classification of
- ------- ------------------------------------
Members of the Group:
---------------------
Not Applicable.
Item 9: Notice of Dissolution of Group:
- ------- -------------------------------
Not Applicable.
Item 10: Certification:
- -------- --------------
By signing below each of the undersigned certifies that, to
the best of the undersigned's knowledge and belief, the
securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as
a participant in any transaction having that purpose or
effect.
Page 7 of 9 Pages
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SIGNATURE
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After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 10, 1999
LATTANZIO GROUP, LLC
By: /s/ John J. Lattanzio
-------------------------
Name: John J. Lattanzio
Title: Principal Manager
By: /s/ Michael J. Linn
-------------------------
Name: Michael J. Linn
Title: Manager
/s/ John J. Lattanzio
------------------------------
John J. Lattanzio
/s/ Michael J. Linn
------------------------------
Michael J. Linn
Page 8 of 9 Pages
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EXHIBIT A
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Joint Filing Agreement, dated February 17, 1998, among the signatories to this
Schedule 13G (filed as Exhibit A to the initial Schedule 13G and incorporated
herein by reference).
Page 9 of 9 Pages
