ICLR Investors with Losses Encouraged to Contact Hagens Berman
SAN FRANCISCO, Feb. 13, 2026 /PRNewswire/ -- Investors in ICON plc (NASDAQ: ICLR) saw the price of their shares drop about 49% during trading on February 12, 2026, after the company disclosed its investigation into the propriety of its revenue recognition in fiscal years 2023 through 2025.
The development and severe market reaction have prompted national shareholder rights law firm Hagens Berman to continue its investigation into whether ICON may have violated the federal securities. The firm urges ICON investors who suffered significant losses to contact the firm now to discuss their rights.
Visit: www.hbsslaw.com/investor-fraud/iclr
Contact the Firm Now: ICLR@hbsslaw.com
844-916-0895
ICON plc (ICLR) Investigation:
The investigation focuses on the propriety of clinical research company ICON's past assurances that its internal control over financial reporting was effective and that its financial statements were prepared in conformity with applicable accounting rules.
The trigger for Hagens Berman's investigation is ICON's February 12, 2026, SEC filing in which the company made four startling disclosures.
First, the company notified investors that it would not timely file its Q4 and FY 2025 financial reports because its Audit Committee has been conducting an "ongoing internal investigation" into "certain of the Company's accounting practices and controls[.]" ICON further revealed that this investigation was initiated sometime in late October 2025.
Second, ICON disclosed that the investigation so far has revealed that 2023 and 2024 revenue may have been overstated.
Third, the company said that it expects to report one or more material weaknesses in its internal control over financial reporting.
Fourth, ICON said that, as a result, it was withdrawing its previously issued FY 2025 financial guidance which the company gave to investors on October 22, 2025. It is unclear whether the guidance was given before or after the company initiated its investigation.
The market's reaction was severe, as the price of ICON shares plunged about 49% during trading that day, wiping out over $5 billion of market capitalization in a single day.
"We're investigating whether, having assured investors of the effectiveness of its internal controls and that its financial statements were prepared in conformity with applicable accounting rules, ICON may have intentionally misled investors about its revenue recognition practices," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
If you invested in ICON and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now »
If you'd like more information and answers to other frequently asked questions about the ICON investigation, read more »
Whistleblowers: Persons with non-public information regarding ICON should consider their options to help with the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ICLR@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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SOURCE Hagens Berman Sobol Shapiro LLP
