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Thursday, July 3, 2014

Second largest American Apparel shareholder sells most of stock, (AMEX: APP)

American Apparel's second-largest shareholder, FiveT Capital, has sold the majority of its stock in the retailer, according to a U.S. Securities and Exchange Commission filing. The Zurich-based asset management firm lowered its stake in American Apparel to 3.19 percent from the 12.68 percent it had amassed by April, according to regulatory filings, the most recent of which became public Thursday. The firm did not respond to immediate requests for comment.

American Apparel, Inc. is a vertically integrated manufacturer, distributor, and retailer of branded fashions basic apparel and accessories for women, men, children and babies. Shares of APP traded higher by 4.82% or $0.04/share to $0.87. In the past year, the shares have traded as low as $0.46 and as high as $2.09. On average, 5103100 shares of APP exchange hands on a given day and today's volume is recorded at 5148768.