Appeals Court Overturns Iconix Founder Cole’s Fraud Conviction

A federal appeals court in Manhattan on Monday overturned the conviction of Neil Cole, the founder and former chief executive of Iconix Brand Group, for defrauding investors about the apparel licensing company’s revenue and earnings.

The 2nd U.S. Circuit Court of Appeals said Cole’s conviction on eight charges and 18-month prison term violated his right against being tried twice for the same crime, known as double jeopardy, under the U.S. Constitution’s Fifth Amendment.

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