American Apparel Receives NYSE Amex Letter Relating to Noncompliance with Listing Standards

American Apparel, Inc. APPtoday announced that it received a letter from the NYSE Amex LLC relating to the composition of the Company's Audit Committee and Board of Directors. The letter from the Exchange states that (i) the Company is not in compliance with Section 803(B)(2)(a) of the NYSE Amex Company Guide, which requires that the Audit Committee consist of at least three members, and (ii) the Company's Board of Directors has a structure which is not in compliance with Section 802(d) of the Company Guide, which the Exchange interprets as requiring that classes of a classified board be of approximately equal size and that a majority of directors be elected every two years.