This is not at all surprising given the details laid out in $APP ‘s complaint. It also should not be surprising to anyone when Dov eventually violates this restraining order and gets himself in even more trouble, eventually costing himself the shares he owns. He is not operating rationally at this point and given that we should not expect anything different in his behavior than he has demonstrated up to this point.
It really is to bad, he could still be at the company……
Item 8.01 Other Events.
On June 1, 2015, the Delaware Court of Chancery (the “Court”) granted the motion of American Apparel, Inc. (the “Company”) for a temporary restraining order against Dov Charney, the Company’s former Chief Executive Officer. The Court has temporarily restrained Mr. Charney from breaching the terms of the Nomination, Standstill and Support Agreement, dated July 9, 2014. Among other things:
(a) Mr. Charney is temporarily restrained from directly or indirectly seeking the removal of any member of the Company’s board of directors, including by instigating, encouraging, acting in concert with or assisting any third party in seeking to do so, and, unless required by law, participating in any way in the Hubner v. Mayer case (pending in the Central District of California), the Rodriguez v. Mayer case (pending in the Delaware Court of Chancery) and all similar actions currently pending or that are filed while the Court’s order is in effect; and
(b) Mr. Charney is temporarily restrained from making or causing to be made to any third party (including by press release or other statement to the press or media) any statement that disparages or negatively reflects on the Company or its current, former or future employees, officers or directors.
The Court also granted the Company’s motion for expedited discovery.