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American Apparel Investor Sues Over Ex-CEO's Misconduct

By Jeff Sistrunk (July 7, 2014, 9:34 PM EDT) -- Ousted American Apparel Inc. CEO Dov Charney and the clothing retailer's directors were hit with a shareholder derivative suit Monday alleging Charney's purported misconduct and mismanagement and a lack of oversight by the other directors damaged the company's operations and financial condition.

Shareholder Tammy G. Federman's suit in California federal court comes less than a month after American Apparel's board of directors booted Charney, who has been targeted in numerous employee harassment lawsuits, following an investigation into his alleged misconduct.

"The company's directors and officers knew of Charney's misconduct, and knew or recklessly disregarded that it was wrong and harmful to...

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