Iconix Brand Group isn’t having such a happy holiday—the fashion and home brands group said Monday it received a formal order for investigation into its accounting practices from the Securities and Exchange Commission (SEC)—and shares fell 7 percent on the news.

The New York-based company, whose portfolio of brands includes Badgley Mischka, Joe Boxer, Mossimo and Zoo York, saw stocks plummet more than 23 percent to $5.70 in Monday afternoon trading.

Read more at Sourcing Journal.

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