Hedge Fund Takes Up American Apparel Founder's Cause

`` Under the terms of the deal, Charney has agreed to let Standard General make all decisions as he seeks to retake control of his former company.... Charney had sought--with Standard General's help--to scoop up a majority stake in American Apparel amidst his dispute with the board. After borrowing Standard General's shares, he had control of 43%. But American Apparel quickly adopted a poison pill to block Charney's plans and has refused to meet with him, leading the entrepreneur to change his strategy.''