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Ousted chairman Charney reports 42.98 pct stake in American Apparel
July 1, 2014 / 10:51 AM / 3 years ago

Ousted chairman Charney reports 42.98 pct stake in American Apparel

July 1 (Reuters) - Dov Charney, who was ousted as American Apparel Inc’s chairman and chief executive last month, said he has increased his stake in the apparel retailer to 42.98 percent.

Charney, ousted from the company on June 18 for alleged misuse of corporate funds and his role in disseminating nude photos of an ex-employee, said he has also called for a special meeting of stockholders on Sept. 25. (1.usa.gov/VBYyX3)

The former CEO, already the biggest shareholder in American Apparel with a 27.2 percent stake, said the increased stake reflected his holding as of last Friday.

American Apparel last Saturday said it has adopted a shareholder rights plan after Charney expressed plans to increase influence over the company. (Reporting by Shailaja Sharma in Bangalore; Editing by Joyjeet Das)

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