Iconix agreed to injunctive relief and to pay a $5.5 million penalty to settle the Commission’s complaint. The company settled the case without admitting or denying the allegations.
Horowitz is cooperating with the SEC and agreed to injunctive relief and a permanent officer and director bar. He also agreed to disgorgement, prejudgment interest of over $147,000, and a penalty in an amount to be determined at a later date.
Clamen agreed to cease and desist from future violations of the securities laws and pay disgorgement and prejudgment interest of nearly $50,000 and a $150,000 penalty. He is suspended from appearing and practicing before the Commission as an accountant. He has the right to apply for reinstatement after three years.
The U.S. Attorney’s Office for the Southern District of New York filed parallel legal actions against Iconix and its three top former executives.
