American Apparel Inc (NYSEMKT:APP)’s board unveiled a poison pill strategy aimed at preventing a takeover from ousted founder Dov Charney on Saturday.
The embattled Los Angeles-based clothing chain said the one-year duration stockholder rights plan would strengthen the company’s ability to protect stakeholders.
Charney pushed out
Earlier this month, American Apparel Inc (NYSEMKT:APP)’s board announced that its founder, president and CEO Dov Charney, had been fired following an investigation into alleged misconduct. The former CEO had been facing sexual harassment and other accusations for years.
The ousted CEO was embroiled in a scandal culminating in 2012 in which an employee,...
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