The former CEO and founder, already the biggest shareholder in American Apparel with a previously reported 27.2 percent stake, said he increased his holding last week. After Charney's statement, American Apparel shares dropped 3.3 percent to 87 cents. Charney said last month he wanted to shake up American Apparel's management and board. Charney's lawyer had threatened legal action in a letter sent to American Apparel should he not regain his executive positions.
via Business News - Yahoo Finance http://ift.tt/1rbkVPV
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