Sunday, November 30, 2008
SEC and the Whistleblower?
"A former accountant for retailer American Apparel Inc. [AAI] has filed a wrongful termination suit against the company alleging that he was fired after refusing requests from Chief Executive Dov Charney to inflate figures on the company's balance sheet. ... He alleges that in 2006 Mr. Charney repeatedly 'demanded that Mr. [Roberto] Hernandez pad the inventory' of the company in an effort to lure investors", Nicholas Casey at the WSJ, 12 November 2008.
We'll see what the SEC and Marcum & Kleigman, AAI's CPAs do with this.