American Apparel Under Regulator Scrutiny for Possible Violations

Entrepreneur's New Year’s Guide

Let the business resources in our guide inspire you and help you achieve your goals in 2021.
1 min read
This story originally appeared on Reuters

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)

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Plus, enjoy a FREE 1-year Entrepreneur magazine subscription.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur