NEW YORK, Oct. 15 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc.
(Nasdaq: ICON) today announced that it had reached a settlement with the
Antitrust Division of the Department of Justice ("DOJ") relating to its Hart-
Scott-Rodino filing for the Rocawear(R) acquisition, which closed on March 30,
The settlement arises from the DOJ's claims that the company did not fully
comply with the filing requirements under Item 4(c) of the Notification and
Report Form for Certain Mergers and Acquisitions required to be filed pursuant
to the Hart-Scott-Rodino Antitrust Improvements act of 1976, as amended (HSR
As part of the settlement, in which the Company did not admit to any
wrongdoing, Iconix has agreed to a payment to the government of $550,000 in
full resolution of the matter. The settlement places no restrictions on any
future Iconix acquisitions or required Iconix HSR Act filings. The Company
elected to settle the matter instead of incurring the expense and the
distraction of litigation.
Iconix Brand Group, Inc. (Nasdaq: ICON) owns, licenses and markets a
growing portfolio of consumer brands including CANDIE'S(R), BONGO(R), BADGLEY
MISCHKA(R), JOE BOXER(R), RAMPAGE(R), MUDD(R), LONDON FOG(R), MOSSIMO(R),
OCEAN PACIFIC(R), DANSKIN(R) and ROCAWEAR(R) as well as OFFICIAL PILLOWTEX
LLC, a large portfolio of home brands including four primary brands,
CANNON(R), ROYAL VELVET(R), FIELDCREST(R) and CHARISMA(R). The Company
licenses its brands to a network of leading retailers and manufacturers that
touch every major segment of retail distribution from the luxury market to the
mass market, with distribution in the U.S. and around the world. Iconix,
through its in-house advertising, promotion and public relations agencies,
markets its brands to drive greater consumer awareness and equity.
Certain statements and information included in this release constitute
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Iconix to be
materially different from any future results, performance or achievements
expressed or implied in such forward-looking statements. Important factors
that could cause actual results to differ materially from the results
expressed or implied in such forward looking statements include the risk that
the notes offering is not timely consummated or is not consummated at all.
Additional discussion of factors that could cause actual results to differ
materially from management's projections, estimates and expectations is
contained in Iconix' Annual Report on Form 10-K for the fiscal year ended
December 31, 2006 and the other documents Iconix files with the SEC from time
to time. Iconix undertakes no duty to update its forward-looking statements.
Contact: David Conn
Executive Vice President
Iconix Brand Group, Inc.
SOURCE Iconix Brand Group, Inc.
/CONTACT: David Conn, Executive Vice President, Iconix Brand Group, Inc.,
/Web site: http://www.iconixbrand.com /
CO: Iconix Brand Group, Inc.
ST: New York
IN: REA FAS
-- NYM177 --
8876 10/15/2007 17:54 EDT http://www.prnewswire.com