RADNOR, Pa., March 06, 2025 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against ICON Public Limited Company (“ICON”) (NASDAQ: ICLR) on behalf of all purchasers of ICON ordinary shares between July 27, 2023 and October 23, 2024, inclusive (the “Class Period”). The lead plaintiff deadline is April 11, 2025.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered ICON losses, you may CLICK HERE or copy and paste the following link into your browser: https://www.ktmc.com/new-cases/icon-plc?utm_source=PR&utm_medium=link&utm_campaign=iclr&mktm=r
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
DEFENDANTS’ ALLEGED MISCONDUCT:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) ICON was suffering from a material loss of business due to customer cost reduction measures and other widespread funding limitations impacting the company’s client base; (2) ICON’s purported hybrid model offerings were insufficient to shield the company from the adverse effects of a significant market downturn; (3) the requests for proposals ICON received from its biotechnology customers during the Class Period were used in substantial part as price discovery tools, and thus were not indicative of underlying client demand; (4) ICON’s customers had canceled contracts, limited or reduced engagements, delayed clinical trial work, and/or failed to enter into new contracts with ICON for additional clinical trial work at historical rates once existing projects ended (or were scheduled to end) in 2024; (5) ICON’s two largest customers were diversifying certain of their providers away from the company; (6) as a result of the foregoing, ICON’s reported net new business awards and book-to-bill metrics materially misrepresented client demand for ICON’s services; and (7) as a result, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
THE LEAD PLAINTIFF PROCESS:
ICON investors may, no later than April 11, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages ICON investors who have suffered significant losses to contact the firm directly to acquire more information.
CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/icon-plc?utm_source=PR&utm_medium=link&utm_campaign=iclr&mktm=r
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com
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