Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the Iconix Brand Group Securities Litigation

NEW YORK--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Iconix Brand Group Securities Litigation:

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

In re ICONIX BRAND GROUP, INC., et al.

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Civil Action No. 1:15-cv-04860-PGG
CLASS ACTION

This Document Relates To:

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ALL ACTIONS.

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SUMMARY NOTICE

TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR ACQUIRED SECURITIES OF ICONIX BRAND GROUP, INC. (“ICONIX”) DURING THE PERIOD FROM FEBRUARY 22, 2012 TO NOVEMBER 5, 2015, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on January 23, 2020, at 11:00 a.m., before the Honorable Paul G. Gardephe, United States District Judge, at the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, Courtroom 705, New York, NY 10007, for the purpose of determining: (1) whether the proposed Settlement of certain claims in the above-captioned Action, as set forth in the settlement agreement reached between the parties, consisting of Six Million Dollars ($6,000,000.00) in cash, should be approved as fair, reasonable, and adequate to the Members of the Class; (2) whether the release by Class Members of the claims as set forth in the Stipulation of Settlement and Release should be authorized; (3) whether the proposed plan to distribute the settlement proceeds (the “Plan of Allocation”) is fair, reasonable, and adequate; (4) whether the application by Lead Counsel for an award of attorneys’ fees and expenses and any award to Lead Plaintiffs pursuant to 15 U.S.C. §78u-4(a)(4) should be approved; and (5) whether the Judgment, in the form attached to the settlement agreement, should be entered.1

Please note that the date, time and location of the settlement hearing are subject to change without further notice. If you plan to attend the hearing, you should check the docket or contact Lead Counsel (identified below) to be sure that no change to the date, time or location of the hearing has been made.

IF YOU PURCHASED OR ACQUIRED ANY OF THE COMMON STOCK OF ICONIX DURING THE PERIOD FROM FEBRUARY 22, 2012 TO NOVEMBER 5, 2015, INCLUSIVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form (“Proof of Claim”), you may obtain copies by writing to Iconix Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43305, Providence, RI 02940-3305, or on the internet at www.IconixSecuritiesSettlement.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail (postmarked no later than January 6, 2020) or submitted electronically (no later than January 6, 2020), establishing that you are entitled to recovery. Unless the deadline is extended, your failure to submit your Proof of Claim by the above deadline will preclude you from receiving any payment from the Settlement.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than December 30, 2019, in the manner and form explained in the detailed Notice, referred to above. All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation of Settlement and Release.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be mailed to each of the following recipients, such that it is received no later than December 30, 2019:

CLERK OF THE COURT

Lead Counsel:

Defendants’ Counsel:

UNITED STATES DISTRICT COURT

Mark Millkey

Scott D. Musoff

SOUTHERN DISTRICT OF NEW YORK

ROBBINS GELLER RUDMAN

SKADDEN, ARPS, SLATE, MEAGHER

DANIEL PATRICK MOYNIHAN UNITED

& DOWD LLP

& FLOM LLP

STATES COURTHOUSE

58 South Service Road, Suite 200

Four Times Square

500 Pearl Street

Melville, NY 11747

New York, NY 10036

New York, NY 10007

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE OR DEFENDANTS REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

DATED: September 23, 2019

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

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Please note that Defendant BDO USA, LLP (“BDO”) is not a party to the Settlement, and the Settlement therefore does not address, curtail or otherwise resolve Lead Plaintiffs’ claims against BDO, which remain pending in the Action.

 

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1-619-231-1058

Contacts

Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1-619-231-1058