ICON plc facing US class action lawsuit from shareholders
Reading time: 1 minute
Irish-headquartered clinical research organisation ICON plc is facing a class action lawsuit in the US over allegations that it made “false and/or misleading statements” about its financial performance, which the company denies.
ICON describes itself as the “world’s leading clinical research organisation, providing outsourced clinical development and commercialisation services to the pharmaceutical, biotechnology and medical device industries”.
Founded in Dublin in 1990, it now employs over 41,900 people in 106 locations across 55 countries, according to its website.
The lawsuit was filed against ICON, chief executive officer Stephen Cutler and former chief financial officer Brendan Brennan by shareholder Chan Kwok Shing earlier this month in the US District Court for the Eastern District of New York.
A number of US law firms are currently inviting people who purchased ordinary shares in ICON plc between 27 July 2023 and 23 October 2024 to join the suit.
In its recently-published annual report for 2024, ICON said that it “intends to defend the litigation vigorously”.
Share this article:
Subscribe to our newsletter to not miss articles like this one:
SUBSCRIBE
