American Apparel sued over CEO ouster
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 misco…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Roche cuts pipeline after research setbacks and sales drop
Cordlife customers push for legal action
China knockoff raid jolts a global throng of fake-fashion influencers
Apparel company Express seeks quick bankruptcy sale
Mattel posts narrower loss, thanks to Hot Wheels growth and lower costs
Starbucks set for talks with unionised US stores