📺 Stream EntrepreneurTV for Free 📺

American Apparel Under Regulator Scrutiny for Possible Violations The investigation is looking into a potential legal violation related to Dov Charney, the company's founder and former chief executive officer.

By Reuters •

entrepreneur daily

This story originally appeared on Reuters

Susan Montgomery | Shutterstock.com

American Apparel Inc said in a filing on Wednesday that the U.S. Securities and Exchange Commission has ordered an investigation into a potential legal violation related to Dov Charney, the company's former chief executive officer.

The filing said the "investigation is a non-public, fact-finding inquiry" into "matters arising from the (company board)Suitability Committee's review relating to Mr. Charney," in reference to the process that formalized Charney's firing in Dec. 2014.

The fashion retailer said it intends to cooperate fully with the regulator in its investigation.

(Reporting By Jeffrey Dastin in New York; Editing by Alan Crosby)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Franchise

Franchising Is Not For Everyone. Explore These Lucrative Alternatives to Expand Your Business.

Not every business can be franchised, nor should it. While franchising can be the right growth vehicle for someone with an established brand and proven concept that's ripe for growth, there are other options available for business owners.

By Emiliano Jöcker
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

By The Staff of Entrepreneur Media, Inc.
Business News

The TikTok Ban Bill Has Been Signed — Here's How Long ByteDance Has to Sell, and Why TikTok Is Preparing for a Legal Battle

TikTok has nine months to cut ties with its China-based parent company ByteDance.

By Sherin Shibu
Business News

Passengers Are Now Entitled to a Full Cash Refund for Canceled Flights, 'Significant' Delays

The U.S. Department of Transportation announced new rules for commercial passengers on Wednesday.

By Emily Rella
Leadership

Why Companies Should Prioritize Emotional Intelligence Training Alongside AI Implementation

Emotional intelligence is just as important as artificial intelligence, and we need it now more than ever.

By Rimi Basu
Business News

Elon Musk Tells Investors Cheaper Tesla Electric Cars Should Arrive Ahead of Schedule

On an earnings call, Musk told shareholders that Tesla could start producing new, affordable electric cars earlier than expected.

By Sherin Shibu