again, thanks for your input. but you seem to be confused, catachresis not withstanding.
1. dove did not "secede" [sic], rather he acquired another 20% of APP's outstanding shares.
2. he turned his entire 42% voting power over to the very hedge fund which loaned him the money to acquire the additional shares in the first place.
3. that hedge fund then provided $25 million debt financing to american apparel.
4. the hedge fund (and dov) accepted a limit of one third voting power until 2015 and pending the outcome of the investigation into dov's behavior.
5. meanwhile, the board will be dissolved and replaced -- feel free to look into the makeup of the new directorship.
6. lion/hollywood, which had acquired a 12%+ stake in APP, and owned $10 million in APP debt, was thus prevented from enacting a plan to bankrupt american apparel and license it to foreign producers.
7. one might infer that dov shrewdly gave up control of his company to save it.
8. at any rate, american apparel has not ruled out reinstatement of dov as ceo, director, or employee following the conclusion of its inquiry.
9. i'm sure that dov wants his job back, but he wasn't so blinded by this desire that he ran the company into the ground in the process of saving his job.
10. there is a long road to go for app, but this is a victory story for everyone. if you know the people you claim to, i suggest you ask them how they feel.
11. Michael Bigger beneficial shareholder of 13% in APP seems pleased in his twitter tweets.
god luck finding an entry.
Market Data 
Markets 
AI
