Deals Rumor Mill: American Apparel, AbbVie, Lululemon

Law360, New York (July 03, 2014, 9:34 PM ET) -- Ousted American Apparel Inc. CEO Dov Charney has handed over his entire stake and voting rights in the struggling retailer to Standard General LP, allowing the fund to negotiate directly with the independent directors over the company's future, sources told Reuters on Thursday.

Earlier this week, regulatory filings indicated that Standard Green had loaned its shares to Charney to boost his American Apparel stake after the retailer adopted a poison pill, but the agreement sees Charney, who founded the retailer, place the power in the hands...
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