SEC Probes American Apparel on Matter Related to Ex-CEO

American Apparel said in a filing on Wednesday that the U.S. Securities and Exchange Commission has ordered an investigation into a potential legal violation related to its founder and former Chief Executive Officer Dov Charney. The filing said the investigation is a nonpublic, fact-finding inquiry into matters arising from the board committee's review that formalized Charney's firing in December 2014. The fashion retailer said it intends to cooperate fully with the regulator in its investigation.