Securities
Jan. 18, 2012
Shareholder suit against American Aparrel dismissed
A Los Angeles federal judge on Friday dismissed a shareholder class action against American Apparel Inc. that alleged the clothing company hid risks it faced as a result of employing a largely immigrant workforce.
By Gabe Friedman
Daily Journal Staff Writer
A Los Angeles federal judge on Friday dismissed a shareholder class action against American Apparel Inc. that alleged the clothing company hid risks it faced as a result of employing a largely immigrant workforce.
In a 68-page opinion, U.S. District Judge Margaret Morrow ruled plaintiffs failed to allege American Apparel executives acted with the requisite intent to commit securities fraud. The judge gave plaintiffs 45 ...
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