An investigation on behalf of investors in shares of XCel Brands Inc (NASDAQ:XELB) was announced over potential breaches of fiduciary duties by certain officers and directors at XCel Brands Inc.

The investigation by a law firm concerns whether certain XCel Brands officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

New York based Xcel Brands, Inc. is a brand development and media company that is engaged in the design, production, licensing, marketing, and direct to consumer sales of branded apparel, footwear, accessories, jewelry, home goods, and other consumer products, and the acquisition of consumer lifestyle brands. XCel Brands Inc reported that its annual Total Revenue rose from $27.72 million in 2015 to $32.75 million in 2016 and that its Net Income declined from $2.85 million in 2015 to $2.70 million in 2016.

Shares of XCel Brands Inc (NASDAQ:XELB) declined from $4.80 per share in August 2017 to $2.10 per share in November 2017.