Leading shoe retailer Footstar Inc was on Tuesday hit with a second class action lawsuit by shareholders over claims its financial results were misleading and inflated its stock price.

The suit, filed by Pennsylvania-based law firm Schiffrin & Barroway LLP, follows a similar class action last month by law firm Milberg Weiss Bershad Hynes & Lerach LLP.

That suit came after Footstar announced its athletic shoe retailing unit had been understating accounts payable for the last two years - by as much as $35 million.

As a result, Footstar said it was withholding its third-quarter report and would restate results for the first nine months of 2002 and all of 2001.