ICLR INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that ICON PLC Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

NEW YORK, Feb. 14, 2025 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against ICON PLC ("ICON" or "the Company") (NASDAQ: ICLR) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired ICON securities between July 27, 2023 and October 23, 2024, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/ICLR.

Case Details

The Complaint alleges that throughout the Class period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) ICON was suffering from a material loss of business due to customer cost reduction measures and other widespread funding limitations impacting ICON's client base; (2) ICON's purported Functional Service Provision ("FSP") and hybrid model offerings were insufficient to shield ICON 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 their CRO providers away from ICON; (6) as a result of the above, ICON's reported net new business awards and book-to-bill metrics materially misrepresented client demand for ICON's services; and (7) consequently, ICON was tracking materially below the 2024 revenue and EPS guidance issued during the Class Period and such guidance lacked a reasonable factual basis.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/ICLR. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in ICON you have until April 11, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Contact

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Nathan Miller

332-239-2660 | info@bgandg.com

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SOURCE Bronstein, Gewirtz & Grossman, LLC