American Apparel Accused in Suit of Firing CEO to Sell Chain

Dov Charney was fired as American Apparel's CEO because he wouldn't go along with a plan to sell the clothing retailer, according to a shareholder lawsuit brought by two men with ties to Charney. Citing information they said was gathered from Charney and a former board member they didn't identify, the shareholders claim then Chief Financial Officer John Luttrell approached Charney about selling the company. After he refused, Luttrell orchestrated Charney's firing for alleged misconduct, aiming to set the stage for a future sale, according to the complaint.