In 2015, several top executives, including founder Neil Cole, resigned following a statement that Iconix was under investigation by the Securities and Exchange Commission.[12] The investigation was triggered by Iconix's 2014 financial statements, after which it received a letter from the SEC. Stock prices fell 24% after Iconix confirmed the investigation. [13] On December 5, 2019, the SEC charged Iconix and three of its former top executives with fraud. Without admitting or denying the allegations, Iconix agreed to pay a $5.5 million penalty. [14][15]In 2017, Iconix sold Badgley Mischka and The Sharper Image.[16][17]