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Hedge fund assures investors it has control over American Apparel
Hedge fund assures investors it has control over American Apparel

The corporate soap opera at American Apparel Inc. has taken another dramatic turn. Standard General, the hedge fund that appeared to be riding to ousted Chief Executive Dov Charney's defense, now is portraying itself as American Apparel's best hope for survival — with or without Charney. The New York investment firm last week lent Charney nearly $20 million to increase his ownership to 43% of the retailer's stock, from 27%. That was a key step in Charney's effort to control the company he founded by installing new directors and, potentially, getting his job back. But Standard General has quickly moved to quash speculation that the iconoclastic Charney is...

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