American Apparel Inc. needs to change its board structure in the coming year or risk being delisted by the NYSE Amex.
The Los Angeles-based vertical retailer said Wednesday that it has received a letter from the NYSE Amex indicating that it is not in compliance with listing standards requiring at least three members on its audit committee, rather than the two the firm now has. The issue arose when board members Mark Samson and Mark Thornton resigned on July 1.
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