Saxena White Announces $6 Million Settlement of Iconix Brand Group Securities Litigation

Saxena White is pleased to announce that a $6 million settlement has been reached in securities class action In re Iconix Brand Group, Inc. et al., pending in the United States District Court for the Southern District of New York. The case alleged that Iconix deceived investors by creating sham overseas joint ventures to artificially inflate its revenue. Saxena White achieved this meaningful recovery despite the fact that the Court ultimately dismissed the action as to the Company’s auditor, BDO, who approved the joint ventures.