Levi & Korsinsky announces the filing of a class action lawsuit in the United States District Court for the Southern District of New York on behalf of shareholders of Iconix Brand Groups, Inc. (NASDAQ: ICON) who purchased shares between February 20, 2013 and April 17, 2015.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (a) the Company had underreported the cost basis of its brands; (b) the Company engaged in irregular accounting practices related to the booking of its joint venture revenues and profits, free-cash flow, and organic growth; and (c) as a result of the aforementioned, the Company’s earnings and revenues were overstated. On April 17, 2015, Iconix announced that the Company’s Chief Operating Officer had resigned. Then on April 20, 2015, Roth Capital Partners published an Equity Research Note criticizing the Company’s alleged accounting irregularities. If you suffered a loss in Iconix you have until August 24, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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