July 29, 2014 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
April 16, 2014 - The court preliminarily approved the settlement.

January 17, 2014 - Parties filed a stipulation of settlement.

August 8, 2013 - The court denied in part and granted in part the defendants' motion to dismiss.

March 15, 2013 - The lead plaintiff filed a second amended complaint.

January 16, 2013 - The court denied in part and granted in part the defendants' motion to dismiss.

March 30, 2012 - The defendants filed a motion to dismiss.

February 27, 2012 - The lead plaintiff filed an amended complaint.

January 13, 2012 - The court granted the defendants' motion to dismiss.

May 31, 2011 - The defendants filed a motion to dismiss.

April 29, 2011 - The lead plaintiff filed a consolidated complaint on behalf of investors who purchased American Apparel Inc (AMEX: APP) shares or between November 28, 2007 to August 17, 2010. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 28, 2007 to August 17, 2010.

March 15, 2011 - The lead plaintiff and lead counsel were appointed.

December 3, 2010 - All cases were consolidated.

October 25, 2010 - Lead plaintiff motions were filed.

August 31, 2010 - Another investor filed a complaint.

August 25, 2010 - An investor in shares of American Apparel Inc (AMEX: APP) filed a lawsuit in the U.S. District Court for the Central District of California against American Apparel Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 20, 2006 and August 17, 2010.

According to the latest complaint filed in the United States District Court for the Central District of California the plaintiff alleges on behalf of purchasers of American Apparel Inc common stock during the period between December 20, 2006 and August 17, 2010, that American Apparel Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between December 20, 2006 and August 17, 2010, false and misleading statements about its hiring practices and the effect of such hiring practices on the its financial performance..

On March 31, 2010, American Apparel Inc disclosed an audit report issued by Deloitte & Touche LLP. According to the investigation the report identified material weaknesses in American Apparel Inc's internal controls over financial reporting and their financial closing and reporting processes.

Then on July 22, 2010, Deloitte resigned as the independent registered public accounting firm of American Apparel Inc, having serves asAmerican Apparel Inc’s independent registered public accounting firm since April 3, 2009. On July 26, 2010, the Audit Committee had engaged Marcum LLP as American Apparel Inc’s independent auditors to audit American Apparel Inc’s financial statements.

On July 29, 2010, after Deloitte's resignation was announced to the public, American Apparel Inc (AMEX: APP) shares dropped from $1.81 per share to close at $1.55 per share. American Apparel Inc (AMEX: APP) paid in 2007 twice dividends of 75 Cents per share and rose from $9.18 per share in January 2007 to over $15 per share in December 2007. During 2008 APP shares lost over 80% of its value and traded as low as $1.82 per share in December 2008. During 2009 APP shares recovered and traded as high as $6.60 per share in May 2009, but lost again substantially value and traded recently at $1.44 per share, even below its low from December 2008. American Apparel Inc’s Total Revenue more than doubled within in the past four years from $284.97 million in 2006 to $558.77 million in 2009. While American Apparel Inc had to report a Net Loss of $1.61 million in 2006, it reported a two digit million Net Income in 2007 and 2008, $15.48 million, respectively $14.11 million. But American Apparel Inc’s Net Income diminished in 2009 to slightly over $1.1 million and according to the complaint American Apparel Inc, which has not filed financial statements for the past two fiscal quarters, is on the verge of being delisted from the New York Stock Exchange.
On August 17, 2010, The New York Times reported that American Apparel Inc received a federal subpoena in New York related to its problems with Deloitte & Touche. American Apparel Inc (AMEX: APP) stock went from $1.40 on Monday August 16, 2010, to roughly $1.10 per share on Tuesday, and declined to as low as $0.73 per share on Wednesday August 18, 2010.

Then, on August 17, 2010, American Apparel Inc issued a press release announcing that it expected to report a loss of $5 million to $7 million in the second quarter of 2010 on net sales of $132 million to $143 million. According to the press release, a significant factor in such losses was lower labor efficiency at the American Apparel Inc's production facilities in the second quarter of 2010 compared to the prior year period. The lower labor efficiency was primarily a result of the hiring of over 1,600 net new manufacturing workers during the second quarter of 2010. By August 18, 2010, as this news was digested by the market, American Apparel Inc's (AMEX: APP) stock price had declined, from a close of $1.39 per share on August 16, 2010, to a close of just $0.81 per share on August 18, 2010 -- a decline of over 41%.

American Apparel Inc, located in Los Angeles, California, is a vertically-integrated manufacturer, distributor and retailer of branded fashion basic apparel.