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The end of American Apparel?


Retailer American Apparel voted late Wednesday to oust its highly-controversial founder Dov Charney. In a statement, the company said Charney was removed as Chairman of the Board effective immediately. The board also moved to fire Charney as CEO and President pending the outcome of an ongoing investigation into alleged misconduct. The company said he will be terminated for cause after a contractually-required 30-day warning period.