ICON 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuits Against ICON plc - ICLR

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 11, 2025 to file lead plaintiff applications in securities class action lawsuits against ICON plc (the “Company”) (NasdaqGS: ICLR), if they purchased the Company’s shares between July 27, 2023 and January 13, 2025, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Eastern District of New York.

What You May Do

If you purchased shares of ICON and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([e-mail]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-iclr/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 11, 2025.

About the Lawsuit

ICON and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On October 23, 2024, the Company reported financial results for 3Q 2024, disclosing quarterly revenues of just $2.03 billion, revealing a shocking “revenue shortfall” that significantly missed consensus estimates of $2.13 billion by more than $100 million, that quarterly net new business wins had declined sequentially to $2.3 billion during the quarter, and that its book-to-bill ratio fell sequentially to 1.15, down from 1.22 in the prior quarter, due to ongoing cost containment measures by customers. On this news, the price of ICON’s shares fell from $280.76 per share on October 23, 2024 to $220.47 per share on October 25, 2024. Then, on January 14, 2025, the Company disclosed financial guidance for 2025 well below analysts’ expectations due to “trial activity [that] has been impacted by cautious spending from biopharma customers” and “a headwind from our top two customers.” On this news, the price of ICON’s shares fell from $217.99 per share on January 13, 2025, to $200.24 per share on January 14, 2025.

The first-filed case is Shing v. ICON plc, No. 25-cv-00763. A subsequent case, Police and Fire Retirement System of the City of Detroit v. ICON plc, No. 25-cv-1807, updated the Class Period.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.

To learn more about KSF, you may visit www.ksfcounsel.com.