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 A group of investors 
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led by Giant Group Ltd. and its chairman, Burt Sugarman, 
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said 
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it filed with federal antitrust regulators for clearance 
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to buy more than 50% of the stock of Rally's Inc., a fast-food company
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 based in Louisville, Ky.
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 Rally's operates and franchises about 160 fast-food restaurants throughout the U.S. 
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The company went public earlier this month, 
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offering 1,745,000 shares of common stock at $15 a share.
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 Giant has interests in cement making and newsprint.
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 The investor group includes Restaurant Investment Partnership, a California general partnership, and three Rally's directors:
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 Mr. Sugarman, James M. Trotter III and William E. Trotter II. 
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The group currently holds 3,027,330 Rally's shares, or 45.2% of its commmon shares outstanding.
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 Giant Group owned 22% of Rally's shares before the initial public offering.
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 A second group of three company directors, 
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aligned with Rally's founder James Patterson,
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 also is seeking control of the fast-food chain.
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 It is estimated that the Patterson group controls more than 40% of Rally's stock.
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 Rally officials weren't available 
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to comment late yesterday.
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 For the year 
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ended July 2, 
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Rally had net income of $2.4 million, or 34 cents a share, on revenue of $52.9 million.
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