American Apparel shares soar after Reuters scoop on debt deal

Shares of U.S. retailer American Apparel rose as much as 43 percent on June 13 after Reuters reported exclusively that the company and UK-based lender Lion Capital were near a deal that would prevent it from defaulting on its loans. The wide-ranging analysis was put together by interviewing former employees, sources close to the company, analysts and investors The stock posted its biggest one-day percentage gain for the year following the Reuters story, which was unmatched by Bloomberg and Dow Jones. The story was cited by The Wall Street Journal`s Private Equity Beat Blog and Retail Week and was also picked up by the Toronto Sun and CNN.com, among others..