NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- Iconix Brand Group, Inc. (Nasdaq: ICON) ("Iconix" or the "Company"), today announced that it had reached a settlement with the Federal Trade Commission ("FTC") relating to the FTC's claim that the Company had not complied with certain provisions of the Children's Online Privacy Protection Act ("COPPA") in connection with on-line promotions that it ran for its brands in the Fall 2008.
While the Company believes that any non-compliance was inadvertent and did not result in any harm to children or other users of its sites, it agreed to the settlement in order to avoid the time and expense of a protracted dispute with the FTC.
As part of the settlement, in which the Company did not admit any wrongdoing, the Company has agreed to pay $250,000 and to post certain notices on its sites relating to its information collection practices.
The Company is committed to the protection of children's privacy online and upon first learning of the FTC's claims took immediate action to safeguard its sites in accordance with the FTC's COPPA guidelines.
About Iconix Brand Group, Inc.
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) ROCA WEAR(R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R) and ED HARDY (R) brands. 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 in both the U.S. and around the world. Iconix, through its in-house advertising, promotion and public relations agency, markets its brands to continually drive greater consumer awareness and equity.
SOURCE Iconix Brand Group, Inc.
Tara Levy of Iconix Brand Group, Inc., +1-212-730-0030