American Apparel, Inc. (fka APPCQ)

[Lone Wolf]

Maybe I have a biased perspective and am reading into this what I want to read into it, but reads like current management knows Dov's offer may get accepted:

On January 14, 2016, the Debtors filed with the Bankruptcy Court a First Amended Joint Plan of Reorganization of the Debtors and Debtors in Possession (as further amended and supplemented from time to time, the “Plan”). Information contained in the Plan is subject to change, whether as a result of further amendments to the Plan, third-party actions, or otherwise.

...and they might just be a bit bitter AND want to remain in control even if it means seeing this through to a BK. Why else reject a plan to offers a whole return to the bondholders and keeps the commons intact. Makes no sense not to go with Dov's plan.

The Company also cautions again that trading in its securities during the pendency of the Chapter 11 Cases is highly speculative and poses substantial risks, and that if the Plan currently proposed by the Company in the Chapter 11 Cases is consummated, its common stock will be extinguished and the holders of the common stock will not receive any consideration.