Goldfarb Branham LLP is investigating American Apparel, Inc. (AMEX: APP) due to allegations that the company may have issued materially inaccurate statements to investors concerning its 2009 financial results and the circumstances surrounding the replacement of American Apparel's auditor. Concerned investors should contact securities lawyer Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com.
On March 31, 2010, American Apparel revealed that its auditor -- Deloitte & Touche LLP -- identified material weaknesses in American Apparel's internal controls over financial reporting. On July 29, 2010, Deloitte announced it had resigned and that it had previously notified the American Apparel that the company's 2009 financial statements may not be reliable. On August 17, 2010 media outlets began reporting that the U.S. Attorney's Office for the Southern District of New York had subpoenaed documents related to the Company's preparation and reporting of its financial statements. After this news, American Apparel's stock price dropped 66.5 percent.
If you purchased American Apparel common stock before or between January 1, 2008 and August 16, 2010 and would like more information regarding your rights as a shareholder, please call the firm at 877-583-2855 or hlindley@goldfarbbranham.com. Goldfarb Branham LLP provides nimble, creative and aggressive representation of its clients. The firm has represented shareholders in securities litigation across the country
Contacts:
Goldfarb Branham LLP
Hamilton Lindley, 214-583-2233
Toll Free:
877-583-2855
Fax: 214-583-2234