Iconix to Cooperate in Formal SEC Investigation 6
Post# of 22755
Posted On: 12/28/2015 3:44:32 PM
Iconix to Cooperate in Formal SEC Investigation
6 hours 53 minutes ago - DJNF
By Anne Steele
Iconix Brand Group Inc. said Monday it will cooperate with a formal order of investigation from the Securities and Exchange Commission following the company's review of its accounting of certain licensing agreements.
Shares, which have sunk 78% this year, fell another 7.4% premarket.
The owner of such brands as Candie's, Joe Boxer and Sharper Image remains in a comment letter process with the SEC for accounting treatment for the formation of certain joint ventures.
Iconix also said it is in discussions with potential lenders and "continues to expect to be in a position to refinance its 2016 convertible notes."
The company said it completed restating financial results for 2013, 2014 and part of 2015 at the end of November.
Over the past year, Iconix's top management--including its CEO, operating chief and financial chief--have departed at different times as the company, in correspondence with the SEC, began to review the accounting of certain international joint venture transactions.
Write to Anne Steele at anne.steele@wsj.com.
(END) Dow Jones Newswires
December 28, 2015 08:49 ET (13:49 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
6 hours 53 minutes ago - DJNF
By Anne Steele
Iconix Brand Group Inc. said Monday it will cooperate with a formal order of investigation from the Securities and Exchange Commission following the company's review of its accounting of certain licensing agreements.
Shares, which have sunk 78% this year, fell another 7.4% premarket.
The owner of such brands as Candie's, Joe Boxer and Sharper Image remains in a comment letter process with the SEC for accounting treatment for the formation of certain joint ventures.
Iconix also said it is in discussions with potential lenders and "continues to expect to be in a position to refinance its 2016 convertible notes."
The company said it completed restating financial results for 2013, 2014 and part of 2015 at the end of November.
Over the past year, Iconix's top management--including its CEO, operating chief and financial chief--have departed at different times as the company, in correspondence with the SEC, began to review the accounting of certain international joint venture transactions.
Write to Anne Steele at anne.steele@wsj.com.
(END) Dow Jones Newswires
December 28, 2015 08:49 ET (13:49 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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