Charney's claims include about $6 million in severance, $1.3 million in vacation-time pay, about $10 million for emotional distress and 13 million shares of the company, Bloomberg reported, citing a letter provided by Charney's lawyer, Keith Fink. The U.S. Securities and Exchange Commission has ordered an investigation into matters arising from the review by the board committee of American Apparel that formalized Charney's firing in December 2014, the fashion retailer said in a filing on Wednesday. American Apparel learned of the formal order of investigation on Feb. 5, but it was not immediately clear whether the probe related to Charney's conduct or to the board's review of him, according to the filing. Charney, 45, started American Apparel's predecessor companies in 1989 and had been at the helm since 2007, when the company went public.
via Business News http://ift.tt/1M7F9FA
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