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Stock Market & Financial Investment News

News Breaks
June 30, 2014
20:04 EDTAPPFormer CEO Dov Charney bought 27.35M shares of American Apparel stock on June 27
Charney, who was terminated as president and CEO of American Apparel for cause on June 19, now owns 74.56M shares of the company's stock.
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July 23, 2014
18:05 EDTAPPAmerican Apparel names four new board members, including one woman
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13:13 EDTAPPAmerican Apparel hopes to resolve Dov Charney situation by August, Reuters says
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July 18, 2014
17:25 EDTAPPStandard General working with American Apparel to restructure loan
On July 16, Lion/Hollywood assigned its rights and obligations as a lender under the credit agreement dated as of May 22, 2013 by and among the company, the facility guarantors party thereto, Lion/Hollywood as the initial lender and the other lenders party thereto to Standard General. Standard General purchased the loan in order to resolve any disputes over any alleged events of default under the credit agreement and does not believe that there has been an event of default under the credit agreement. Standard General is working with American Apparel to restructure the loan. As previously discussed on July 11, Standard General is prepared to lend its credibility and capital resources to assist American Apparel in accordance with the support agreement described therein.

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