Current and former outside directors of American Apparel defend violation of Section 14(a) allegations
Clients Current and former outside directors of American Apparel
Jones Day represented the current and former outside directors of American Apparel in allegations that American Apparel's proxy statement was materially misleading, in violation of Section 14(a) of the Securities Exchange Act of 1934 and Delaware law, because it failed to disclose that the company's founder and chief executive officer would be removed from those roles by the board of directors following the annual meeting. In June, 2015, the shareholder plaintiffs' motion for preliminary injunction that sought to set aside the results of the company's 2014 annual meeting based on alleged misstatements in the company's proxy statement was defeated.
Hubner, et al. v. Mayer, et al., No. 2:15-cv-02965-MWF (JEMx) (C.D. Cal.)