ICON PLC Investors: Please contact the Portnoy Law Firm to recover your losses; April 11, 2025 Deadline to file Lead Plaintiff Motion

Core Viewpoint - ICON PLC is facing a class action lawsuit due to alleged misleading statements and undisclosed issues that have materially affected its business performance during the specified class period [3][4]. Group 1: Class Action Details - The class action lawsuit represents investors who purchased ICON securities between July 27, 2023, and October 23, 2024, with a deadline of April 11, 2025, for filing a lead plaintiff motion [1]. - Investors are encouraged to contact the Portnoy Law Firm for a complimentary case evaluation regarding their legal rights and options for recovering losses [2]. Group 2: Business Performance Issues - ICON has reportedly suffered significant business losses due to customer cost-cutting measures and broader funding constraints, which have impacted its client base [3]. - The company's claims regarding its Functional Service Provision (FSP) and hybrid model offerings were found to be inadequate, as many biotechnology customers used ICON's proposals primarily for price discovery rather than actual demand [3][4]. - Major clients canceled contracts and reduced clinical trial work, leading to a decline in new agreements and a misrepresentation of actual client demand in ICON's reported metrics [4]. Group 3: Financial Results and Market Reaction - On October 23, 2024, ICON reported third-quarter revenue of $2.03 billion, which was over$100 million below consensus estimates, alongside a decline in net new business wins and a drop in the book-to-bill ratio [5]. - CEO Stephen Cutler acknowledged that two major pharmaceutical customers had significantly reduced FSP trial work due to ongoing cost containment measures, which would continue to negatively impact financial performance [5]. - Following the financial results announcement, ICON's stock price dropped more than 20% over two trading sessions [5].