Bleichmar Fonti & Auld Appointed Co-Lead Counsel in ICON Litigation

Deal News | Jun 11, 2025 | Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld Appointed Co-Lead Counsel in ICON Litigation

Bleichmar Fonti & Auld LLP (BFA) has been appointed as Co-Lead Counsel in a significant securities class action against ICON plc by Judge Hector Gonzalez of the Eastern District of New York. The legal proceedings involve allegations against ICON for misleading investors by claiming benefit during an industry downturn, which led to cost-cutting by current and prospective clients. The case emphasizes alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. BFA, along with co-counsel, represents several plaintiffs including the Police & Fire Retirement System of the City of Detroit and various trustees of Local 464A Welfare and Pension Funds.

Sectors

  • Legal Services
  • Healthcare
  • Financial Services

Geography

  • United States – The legal proceedings are taking place in the United States District Court for the Eastern District of New York.
  • Ireland – ICON plc is an Irish company involved in the lawsuit.

Industry

  • Legal Services – The article involves a law firm, Bleichmar Fonti & Auld LLP, appointed as counsel in a securities litigation case.
  • Healthcare – ICON plc operates within the healthcare sector and is the target of the securities litigation mentioned in the article.
  • Financial Services – The litigation involves alleged violations of the Securities Exchange Act of 1934, pertaining to financial misrepresentations.

Financials

  • Sections 10(b) and 20(a) – Alleged violations of these sections of the Securities Exchange Act of 1934 are central to the litigation against ICON.

Participants

NameRoleTypeDescription
Bleichmar Fonti & Auld LLPCo-Lead CounselCompanyA law firm appointed as Co-Lead Counsel in the securities litigation against ICON plc.
ICON plcDefendantCompanyThe target company in the securities litigation, accused of misleading investors.
Police & Fire Retirement System of the City of DetroitLead PlaintiffCompanyOne of the lead plaintiffs represented by BFA in the securities class action.
Local 464A United Food & Commercial Workers Union Welfare Service Benefit FundPlaintiffCompanyOne of the plaintiffs represented in the class action against ICON plc.
Local 464A Pension FundPlaintiffCompanyOne of the plaintiffs represented in the class action against ICON plc.