Aug. 24, 2012 (Shareholders Foundation) -- Certain officers and directors of Iconix Brand Group, Inc. are currently under investigation concerning whether they breached their fiduciary duties by paying certain top officials at Iconix Brand Group, Inc. excessive executive pay.

The investigation by a law firm focuses on whether certain directors and officers of Iconix Brand Group, Inc. harmed the company by agreeing to pay certain of Iconix Brand Groups senior officers and executives excessive compensation.

Iconix Brand Group, Inc. (NASDAQ:ICON) reported that its annual Revenue increased from $332.56 million in 2010 to $369.85 million in 2011 and its Net Income rose over the respective time periods from $98.85 million to $126.11 million.

Shares of Iconix Brand Group, Inc. (NASDAQ:ICON) grew from as low as $5.80 per share in November 08 to as high as $23.33 per share in July 2011. However since July 2011 its shares fell in 2012 to as low as under $15 per share in May 2012.

The compensation of certain top officials at Iconix Brand Group, Inc. (NASDAQ:ICON) increased substantially from 2010 to 2011. For instance, its President and CEOs pay skyrocketed from just over $5million in 2010 to over $37.42 million in 2011, the CFOs compensation surged from over $570,000 in 2010 to over $2.41 million in 2011.

Shares of Iconix Brand Group, Inc. (NASDAQ:ICON) closed on August 24, 2012, at $18.38 per share.