Law Offices of Howard G. Smith announces that a class action complaint has been filed on behalf of a class comprising purchasers of the securities of Iconix Brand Group, Inc. (“Iconix” or the “Company”) (NASDAQ: ICON) between February 20, 2013 and April 17, 2015, inclusive (the “Class Period”).

Iconix is a brand management company and owner of a diversified portfolio of global consumer brands across women’s, men’s, entertainment and home. The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) that the Company had underreported the cost basis of its brands; (2) that the Company engaged in irregular accounting practices related to the booking of its joint venture revenues and profits, free-cash flow, and organic growth; (3) that, as a result, the Company’s earnings and revenues were overstated; and (4) that, as a result of the foregoing, Defendants’ statements about Iconix’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On March 30, 2015 after the market closed, the Company announced that its Chief Financial Officer Jeff Lupinacci had resigned effective March 30, 2015. Following this news, shares of Iconix fell $2.72 per share, or 7%, to close on March 31, 2015, at $33.67 per share on unusually high volume.

On Friday, April 17, 2015, after the market closed, Iconix announced that the Company’s Chief Operating Officer (“COO”) Seth Horowitz had resigned after serving for approximately one year. The Company stated that it did not intend to name a new COO. Then, on Monday, April 20, 2015, Roth Capital Partners, published an Equity Research Note, criticizing the Company’s alleged accounting irregularities concerning free-cash flow accounting, organic growth, and gains on licensing fees. Following this news, shares of Iconix declined $6.62 per share, over 20%, to close on April 20, 2015, at $25.41 per share, on unusually heavy volume.

If you purchased Iconix securities during the Class Period, you may move the Court no later than August 24, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

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