An investigation for investors in Iconix Brand Group Inc (NASDAQ:ICON) shares over potential securities laws violations by Iconix Brand Group was announced and NASDAQ:ICON stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/08/2015 -- An investigation for shareholders in Iconix Brand Group Inc shares over potential securities laws violations by Iconix Brand Group was announced.
Investors who purchased shares of Iconix Brand Group Inc (NASDAQ:ICON), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Iconix Brand Group Inc (NASDAQ:ICON) concerning whether a series of statements by Iconix Brand Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Iconix Brand Group Inc (NASDAQ:ICON) traded in June 2014 as high as $44.14 per share.
On April 17, 2015, Iconix Brand Group Inc disclosed that Chief Operating Officer ("COO") of Iconix Brand Group Inc, tendered his resignation on April 13, 2015.
On June 23, 2015 a lawsuit was filed against Iconix Brand Group Inc over alleged securities laws violations. The plaintiff claimed that 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 Inc's earnings and revenues were overstated, and that, as a result of the foregoing, Defendants' statements about Iconix Brand Group Inc's business, operations, and prospects, were allegedly false and misleading and/or lacked a reasonable basis.
On November 5, 2015 Iconix Brand Group Inc (NASDAQ:ICON) announced that the Company intends to restate certain of its historical financial statements. The Company also announced preliminary third quarter 2015 results and updated guidance for the full year 2015.
Shares of Iconix Brand Group Inc (NASDAQ:ICON) closed on December 4, 2015, at $6.82 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