An investigation for investors in NASDAQ:ICON shares was announced concerning potential breaches of fiduciary duties by certain directors of Iconix Brand Group Inc.
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 recently 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.
Shares of Iconix Brand Group Inc (NASDAQ:ICON) closed on April 12, 2016 at $7.65 per share.
Those who purchased NASDAQ:ICON shares 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