NEW INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Iconix Brand Group, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / May 4, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Iconix Brand Group, Inc. (“Iconix” or the “Company”) (NASDAQ: ICON) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On May 3, 2018, the SEC announced an enforcement action against Shawn Carter, the entertainer known as “Jay-Z.” This SEC enforcement action is part of an investigation of potential securities law violations in relation to Iconix. The SEC states that Iconix paid Carter at least $200 million to purchase intangible assets related to his RocaWear clothing company, then Iconix subsequently underwent a write-down on that investment of $169 million in March 2016, and a second write-down of an additional $34 million in March 2018. The SEC seeks Carter’s testimony about his joint ventures with Iconix among other topics. Based on the news of the SEC enforcement action, shares of Iconix fell more than 7.8%, or over $.05 per share to close at $0.59 per share on May 3, 2018.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
www.schallfirm.com

SOURCE: The Schall Law Firm

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