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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of January 06, 2020 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
You must register to view and download the Settlement Notice and Settlement Proof.
September 23, 2019 - The court preliminarily approved the settlement.
September 17, 2019 - A stipulation of settlement was filed by the parties.
April 27, 2018 - A motion to dismiss the second consolidated amended complaint was filed.
November 14, 2017 - A second consolidated amended complaint was filed.
October 25, 2017 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
October 27, 2016 - A motion to dismiss the amended complaint was filed.
May 13, 2016 - An amended complaint was filed.
June 23, 2015 - An investor in shares of Iconix Brand Group Inc (NASDAQ: ICON) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Iconix Brand Group Inc in connection with certain allegedly false and misleading statements made between February 20, 2013 and April 17, 2015.
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 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.
Iconix Brand Group Inc reported that its annual Total Revenue rose from $353.82 million in 2012 to $461.24 million in 2014 and that its respective Net Income increased from $109.41 million to $152.74 million. Shares of Iconix Brand Group Inc (NASDAQ: ICON) grew from $14.74 per share in May 2012 to as high as $44.14 per share in June 2014.
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, 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.