A lawsuit was filed on behalf of investors in Iconix Brand Group Inc (NASDAQ:ICON) shares over alleged securities laws violations and NASDAQ:ICON investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/14/2015 -- An investor, who purchased shares of Iconix Brand Group Inc (NASDAQ:ICON), filed a lawsuit over alleged violations of Federal Securities Laws by Iconix Brand Group Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Iconix Brand Group Inc (NASDAQ:ICON) have certain options and for certain investors are short and strict deadlines running. Deadline: August 24, 2015. NASDAQ:ICON investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Iconix Brand Group Inc (NASDAQ:ICON) common shares between February 20, 2013 and April 17, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 20, 2013 and April 17, 2015 defendants made 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. Shares of Iconix Brand Group Inc (NASDAQ:ICON) declined to as low as $25.27 per share on April 20, 2015, respectively $24.17 per share on July 7, 2015.
On July 10, 2015, NASDAQ:ICON shares closed at $24.31 per share.
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