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Exclusive: Ousted American Apparel CEO hands over stake to hedge fund

2014-07-03 08:17:59| Apparel - Topix.net

Ousted American Apparel Inc Chief Executive Officer Dov Charney has handed over his entire stake and voting rights in the struggling retailer to Standard General LP, enabling the fund to negotiate directly with the independent directors over the company's future, two sources close to the matter said on Wednesday.

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