George Soros has found a new financial disaster from which to profit: American Apparel. The billionaire octogenarian who, like American Apparel's controversial CEO Dov Charney, has lately been entangled in lawsuits with young, beautiful women, is backing a firm that's in talks to extend a credit line worth as much as $80 million to the cash-strapped clothing chain, The Post has learned. The credit facility from Crystal Financial, a Boston-based firm that boasts Soros’ hedge fund as its lead investor, will immediately replace and expand a $75 million revolving credit line from Bank of America.
New York City -- According to a Wednesday filing with the SEC, major Barnes & Noble shareholder, Aletheia Research & Management, has cut its stake in the bookseller from 10.6% to 8.65%. Aletheia was accused by Barnes & Noble of teaming with activist investor billionaire Ron Burkle during a proxy fight last year. The reduction comes about two weeks after Liberty Media made a $1 billion offer for Barnes & Noble. Even with the private equity firm’s reduction, Aletheia still has the third largest stake outside of Burkle's The Yucaipa Cos., which holds a nearly 20% stake, and Chairman
Dover, Del. -- The Delaware Supreme Court has rejected an appeal by billionaire Ron Burkle in a lawsuit challenging a poison pill plan adopted by Barnes & Noble after he doubled his stake in the company. After hearing arguments Wednesday, the court on Thursday affirmed a judge's ruling last year upholding the poison pill plan, which limited a shareholder's stake in the company to 20%.