Ron Burkle reports stake in American Apparel

New York City Billionaire investor Ron Burkle has amassed a 6% stake in American Apparel, according to a securities filing Thursday. Burkle is now the second-largest individual stakeholder in American Apparel, behind the company's outspoken and controversial founder and chief executive, Dov Charney.

Burkle paid roughly $5.9 million for 4.3 million shares of the Los Angeles-based company, which has been burdened by debt and weak sales over the last year.