I-9 AUDIT LEADS TO STOCK PLUNGE AT AMERICAN APPAREL

The forced layoffs of 1500 workers at American Apparel last year after an ICE I-9 audit has caused the company’s stock to drop 14%. The company’s Chief Executive Officer Dov Charney has stated that the layoffs reduced the company’s manufacturing capability. At the time of the audit and layoff, Charney claimed the company would not be affected.