(Bloomberg) — The founder of apparel licenser Iconix Brand Group, which last month settled a high-profile dispute with the rapper Jay-Z, was charged by federal prosecutors with inflating the company’s revenue and earnings.Neil Cole, 62, Iconix’s founder and former chief executive officer, and Seth Horowitz, 43, the ex-chief operating officer, were named in separate charging documents made public Thursday in Manhattan federal court. Trading in Iconix was halted.According to prosecutors, Cole and Horowitz inflated the company’s revenue and earnings per share for all of 2014 and the fourth quarter of 2013, using a series of fraudulent round-trip transactions with a …read more
Source:: Yahoo Finance
