And the saga continues.
American Apparel's former auditors have fired off a letter to the Securities and Exchange Commission notifying them about the clothing company's filings for the 2009 financial year.
According to Deloitte & Touche, who abruptly resigned as AA's accounting firm in July, their reports can't be trusted because Dov Charney and the other execs withheld financial information.
That can't be good.
American Apparel has already released a statement saying D&T's claims aren't true, but we wouldn't be surprised if the SEC does a little investigation next year.
[Image via Getty Images.]
Tags: auditor, deloitte and touche, financial information, lied, securities and exchange commission, withheld information
Even MORE bad news for American Apparel.
On top of being dangerously close to defaulting on a huge loan, AA's accounting firm Deloitte & Touche resigned as the clothing company's auditor.
After the announcement, American Apparel's stock slipped 14.4%, which may sound like a lot but since they've been having such a shiteous year the loss was only 26 cents.
Wonder what else will go wrong for Dov this year?
[Image via AP Images.]
Tags: american apparel, auditor, bad news, deloitte and touche, screwed