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Kendall Law Group Investigates American Apparel, Inc. for Shareholders

^{Published on 2010-08-25 09:50:41 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating American Apparel, Inc. (AMEX: APP) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives regarding allegations that the company may have issued materially inaccurate statements to investors concerning its American Apparela™s 2009 financial results. Stockholders that purchased American Apparel common stock before or between January 1, 2008 and August 16, 2010 are urged to contact Scott Kendall of the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On July 29, 2010, Deloitte & Touche LLP, American Apparela™s auditor, announced it had resigned and that it had previously notified the company that its 2009 financial statements may not be reliable. Shortly thereafter, it was reported that the U.S. Attorney's Office for the Southern District of New York subpoenaed documents related to American Apparel's preparation and reporting of its financial statements. After news of the subpoena broke, American Apparel's stock price dropped 66.5 percent.

Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an American Apparel shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.