American Apparel sued over CEO ouster
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New York
DOV Charney was fired as American Apparel Inc's chief executive officer because he wouldn't go along with a plan to sell the clothing retailer, according to a shareholder lawsuit brought by two men with ties to him.
Citing information they said was gathered from Mr Charney and a former board member they didn't identify, the shareholders claim then-chief financial officer John Luttrell approached Mr Charney about selling the company. After he refused, Mr Luttrell orchestrated Mr Charney's firing for alleged misconduct, aiming to set the stage for a future sale, according to the complaint.
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