Icon Up as Audit Committee Completes Probe, Reaffirms No Impact

ICON shares climb 14% before the bell after the health care services company said an audit committee completed its investigation into the company’s accounting practices and reaffirmed there was no impact on customers, operations or cash flow.

• Investigation finding were primarily related to revenue recognition and determined that revenue was overstated in 2023 and 2024
  • Amount of overstatement was lower than the previously announced upper limit of 2%, ICON said
• Expects to complete finalization of ICON’s financial statements in “coming weeks”
  • Company plans to provide details on “material weaknesses identified by the Company and associated remediation plans” in its annual report on ...