- Fired American Apparel (APP) CEO Dov Charney is looking to buy at least an additional 10% of the company. Charney, who founded APP, currently owns a 27.2% stake.
- According to a 13D, investment firm Standard General will buy American shares on Charney's behalf, and then loan him the funds (at a 10% interest rate) to acquire them.
- American's shares rose 29.8% in regular trading ahead of the filing. They're down 4.8% AH.
- Yesterday: American Apparel lender demands payment of $10M loan