Breaking News Emails
He's been defenestrated from the boardroom, but American Apparel's ex-CEO is battling to regain control of the company he founded. Dov Charney, ousted for alleged misuse of corporate funds and his role in disseminating nude photos of an ex-employee, has boosted his stake in the company to 43 percent and called for a special meeting of stockholders on Sept. 25. Charney, 45, said last month he wanted to shake up American Apparel's management and board. The company said it did not wish to engage in discussions with Charney. American Apparel last Saturday adopted a one-year poison pill after Charney said he would fight to regain influence over the company. The poison pill was put in place by a special committee of the board, which said it would limit the ability of any shareholder "to seize control of the company without appropriately compensating all American Apparel stockholders."
-- By Reuters and NBC News Staff