An investigation on behalf of current long term investors in Iconix Brand Group Inc (NASDAQ:ICON) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:ICON stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/20/2016 -- An investigation for shareholders of Iconix Brand Group Inc (NASDAQ:ICON) concerning potential breaches of fiduciary duties by certain Iconix Brand Group directors was announced.
Investors who are current long term investors in Iconix Brand Group Inc (NASDAQ:ICON) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ:ICON stocks follows a lawsuit filed against Iconix Brand Group Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:ICON stocks, concerns whether certain Iconix Brand Group directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that the defendants made certain allegedly false and/or misleading statements and/or allegedly failed to disclose to investors that Iconix Brand Group Inc had underreported the cost basis of its brands, that Iconix Brand Group Inc engaged in irregular accounting practices related to the booking of its joint venture revenues and profits, free-cash flow, and organic growth, that, as a result, Iconix Brand Group's earnings and revenues were overstated, and that, as a result of the foregoing, Defendants' statements about Iconix Brand Group's business, operations, and prospects, were allegedly false and misleading and/or lacked a reasonable basis.
On March 30, 2015, Iconix Brand Group Inc disclosed that on March 24, 2015, the Chief Financial Officer of Iconix Brand Group, Inc. notified the Company of his intention to resign. On April 17, 2015, Iconix Brand Group Inc disclosed that Chief Operating Officer ("COO") of Iconix Brand Group, Inc. (the "Company"), tendered his resignation on April 13, 2015.
Those who purchased shares of Iconix Brand Group Inc (NASDAQ:ICON) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com