Iconix Brand founder and former CEO Neil Cole’s conviction of securities fraud charges was reversed today.
NEW YORK, Oct. 27, 2025 /PRNewswire/ — “For more than 10 long and difficult years, I have fought with everything I had to clear my name,” Mr. Cole said. “Today, I am vindicated.”
The 2nd Circuit Court of Appeals in New York ruled unanimously on the grounds that Mr. Cole’s criminal retrial constituted double jeopardy stating, “…we REVERSE the judgment of the District Court and REMAND with instructions to vacate Cole’s convictions on the substantive counts and to dismiss the Indictment.”
This puts an end to an exhaustive battle that included multiple trials, years of countless legal wrangling, and cost the former brand executive and the company he founded more than $150 million in legal fees.
“This was lawfare, plain and simple — the government using its power to try to crush someone instead of pursue justice,” said David Markus, Mr. Cole’s Lawyer. “After years of fighting for Neil’s innocence, the truth finally caught up with them. Justice prevailed.”
At an even higher cost to Mr. Cole was the crumbling of his successful public company, and the resulting damage to his reputation.
Mr. Cole added, “The loss of the company I worked so hard to create is beyond repair, but I am relieved I can finally move on and rebuild my life, my business and my reputation. I am confident the brand management business we conceived and built at Iconix can be reinvented.”
Under Mr. Cole’s leadership, Iconix Brand became the world’s second-largest licensing company behind Disney, valued over $3 billion. He revolutionized the concept of brand valuation and established royalty flow as a key asset, influencing how consumer brands are valued as a financial asset globally. This model has since been adopted by countless brand management companies across the world.
An innovator and visionary in the brand space and known for his provocative marketing strategies, Mr. Cole was recognized as one of “America’s Best Small Companies” by Forbes Magazine and is the only person to have been recognized twice as “Person of the Year” by Footwear News Magazine. Famously, he was responsible for Candie’s ad campaign featuring Jenny McCarthy sitting half-naked on the toilet, as well as viral ads with Donna Rice and Marla Maples. Through Iconix, he developed long-term partnerships with celebrities such as Madonna, Jay-Z, and Pharrell Williams.
A passionate philanthropist, Mr. Cole has supported and/or served on the boards of Crutches 4 Kids, the Ronald McDonald House, Memorial Sloan Kettering, and The Mount Sinai Children’s Center Foundation. He also co-founded the Candie’s Foundation, whose annual fundraiser raised millions for the prevention of teen pregnancy, and featured performers such as Taylor Swift, Aretha Franklin, Bruno Mars, Beyonce, and many more.
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SOURCE Neil Cole
