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American Apparel shares surge 19% amid takeover speculation
American Apparel shares surge 19% amid takeover speculation

A day after the firing of Dov Charney, American Apparel Inc.'s stock jumped amid fresh speculation that the apparel company is ripe for a takeover. Shares of the Los Angeles retailer shot up nearly 19% to 69 cents Wednesday following Charney's ouster and the appointment of Paula Schneider as the new chief executive starting Jan 5. Charney had been working as a consultant to the company during his suspension from the CEO job. American Apparel said Tuesday that an investigation into misconduct allegations, including inappropriate behavior with employees, led the company to the determination that Charney shouldn't be reinstated as CEO or continue as an employee. The next...

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