Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court, Southern District of New York against Iconix Brand Group, Inc. (“Iconix”) (NASDAQ: ICON) and several officers and directors for acts taken during the period of February 20, 2013 to April 17, 2015 (the “Class Period”).

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Iconix. If you are an affected Iconix shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor LLP via email at shareholder@powerstaylor.com, or call toll free at (877) 728-9607. There is no cost or fee to you.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that Iconix had underreported the cost basis of its brands and engaged in irregular accounting practices related to the booking of its joint venture revenues and profits, free-cash flow, and organic growth. According to the complaint, this caused Iconix’s earnings and revenues to be overstated. On March 30, 2015, Iconix announced that its Chief Financial Officer had resigned. Then, on April 17, 2015, Iconix announced the resignation of its Chief Operating Officer. Iconix stock dropped significantly immediately following these announcements.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.