Defendant Name: Iconix Brand Group, Inc.

Defendant Type: Public Company

Document Reference: court_doc8_19-cv-11150

Document Details

Legal Case Name SEC v. Iconix Brand Group, Inc.
Document Name Final Judgment as to Defendant Iconix Brand Group, Inc.
Document Date 10-Dec-2019
Document Format Civil Proceeding
Case Number 19-cv-11150
Federal District Court New York, Southern District of New York
Federal District Judge Valerie Caproni
Allegation Type Issuer Reporting and Disclosure
Document Summary The Court issued a final judgment against defendant Iconix Brand Group, Inc. The Court stated "The Securities and Exchange Commission ("Commission") having filed a Complaint and Defendant Iconix Brand Group, Inc. ("Defendant") having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph VI); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"

Disgorgement & Penalty Information

Resolutions
Enjoinment
Cooperation Before the Resolution
Monetary Penalties:

Civil Penalty

Individual:     $5,500,000.00 Shared:    

Total Penalty

Individual:     $5,500,000.00 Shared:    

Related Documents:

LR-24682 05-Dec-2019 Litigation Release
SEC Charges Iconix Brand Group and Former Top Executives with Accounting Fraud
The SEC stated that: "[It] charged brand-management company Iconix Brand Group, Inc. and three of its former top executives with fraud. Iconix and two of its former executives have agreed to settle."
comp-pr2019-251-iconix 05-Dec-2019 Complaint
Complaint
The SEC stated: "This action concerns an intentional fraud perpetrated by Iconix Brand Group, Inc. ("Iconix"), through its former senior management, to recognize false revenue and manipulate reported earnings in 2014. This action also concerns Iconix's negligence-based accounting and reporting fraud, between 2013 and the third quarter of 2015, in failing to: (i) write off two licensees' uncollectible receivables; and (ii) impair the amount of certain intellectual property assets related to three brands, despite clear indicators of impairment. Finally, the action concerns Iconix's improper accounting and reporting in connection with these transactions, as well as the deficient internal accounting policies and procedures that resulted in Iconix's improper conduct."
2019-251 05-Dec-2019 Press Release--Civil Action
SEC Charges Iconix Brand Group and Former Top Executives With Accounting Fraud
The SEC stated that: "[It] charged brand-management company Iconix Brand Group Inc. and three of its former top executives with fraud. Iconix and two of its former executives have agreed to settle."

Related Actions:

SEC v. Neil R. Cole and Seth Horowitz
In the Matter of Warren Clamen, CPA