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Stock Market & Financial Investment News

News Breaks
June 27, 2014
18:50 EDTAPPAmerican Apparel founder in deal to attempt to purchase 10% of company stock
In a regulatory filing, American Apparel founder Dov Charney said he may purchase 10% or more of the company's stock via funds loaned to him from Standard General LP. Charney said he will continue to urge the company to take the necessary steps to increase the value of the stock as well as make changes to the board.
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July 27, 2015
07:22 EDTAPPAmerican Apparel close to bankruptcy, NY Post reports
American Apparel is on the brink of bankruptcy, the New York Post reports. The retailer is currently short on cash reserves and faces a large bond payment in less than three months, all in addition to piling legal bills over the Dov Charney lawsuit over alleged sexual harassment, the report says. Investors are bracing themselves for all-out bankruptcy when the company releases its quarterly earnings, the report adds. Reference Link
July 15, 2015
14:29 EDTAPPAmerican Apparel stake holder Standard General sues Charney, Reuters says
American Apparel investor, Standard General, has sued the company's ex-CEO Dov Charney for the first time, alleging that the ousted CEO has not made good on promises to the hedge fund and looks to impose an injunction to end his "meritless" and "destructive actions" against the firm, says Reuters, in a report from last night. Reference Link

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